The 28-year-old has established himself as United's go-to man this season having bagged 10 goals and as many assists in all competitions - including a brace in the 2-2 draw with Tottenham Hotspur on Sunday.
Speaking to Sky Sports News, Hodgson is hopeful that the in-form marksman can reproduce his quality on the international stage with the Three Lions in June.
"He is playing fantastic. He's an outstanding player," said the 66-year-old. "I just wish I could turn the clock forward and keep him in this form, maybe bottle up what he is doing at the moment, and keep it on a shelf somewhere and release it in May and June.
"I have got to hope Wayne can keep up that good form and we see exactly the same in June as we are seeing at the moment - if we do we have got one major tool in our box."
Hodgson will discover who his team are paired with in the group stage of the competition on Friday, where unseeded England are guaranteed to clash with either Brazil, Spain, Germany or Argentina in the early stages of the tournament.
The draw will take place on Friday in Salvador, Brazil.