Gerrard has been a key member of the Liverpool squad which is still in with a chance of winning the Premier League title, and Hodgson believes that the midfielder is a good role model for other members of the England side.
"Gerrard has turned out to be such a superb captain," Hodgson told reporters. "He really has been a very, very good catalyst for the others, someone they all look up to as a player but also as a person."
When asked if he was concerned about his captain's morale, Hodgson added: "I'm not, because he's very strong mentally.
"It was unusual for Steven to let the ball run past him in the first place but had he not slipped he'd have won it back anyway."
Gerrard has made 109 appearances for England since making his debut in 2000.