The teenager has the option of playing for Jamaica due to his heritage, despite already competing for the England Under-19s and Under-17s.
"Raheem might have Jamaican roots but he has been born and brought up in England and has got the ability to play for the England national team," Sky Sports News quotes Hodgson as saying.
"I'd like to think he would prefer that and would choose us over Jamaica but if that is his desire, we would have to accept that.
"I've not invited him here because I'm worried about overtures from other countries but because he is a potential England player of the near future, not distant future."
Meanwhile, England are preparing to take on Ukraine this evening.