Hodgson admitted that there was "30 to 35 candidates" in his head, but claims that the squad will look very different to the one he took to Euro 2012.
"I only called up a few new players like Jordan Henderson or Danny Welbeck, Andy Carroll and most of all Alex Oxlade-Chamberlain for the 2012 European Championships," the 66-year-old told Kicker. "When I'll announce the World Cup squad, I will call up more younger and less experienced players.
"But that's all part of a natural transition phase experienced by all football nations. You sometimes have an especially good generation like Spain in the past six years. But they will now need a new generation for the next six years."
England begin their World Cup campaign against Italy on June 14.