The 65-year-old has called the midfielder into his squad for next week's friendly with Sweden, giving the 31-year-old a chance to win his first Three Lions cap.
"Leon is a player who I've admired since I came back to Fulham five years ago," said Hodgson.
"He's always done extremely well whenever I've played Everton or watched Everton.
"Of course, he's faced great competition in the position that he plays but, on this occasion, we've got the opportunity and the space to bring Leon into the team."
Osman has not represented England at any level.