The 30-year-old scored 15 goals in his first season in England last year, but has found the back of the net just once this league campaign.
Manager Hodgson believes that the Nigeria international must use his ball skills and trickery to continue to overcome opponents, much like the former Manchester United star.
"When Cristiano Ronaldo was playing for Manchester United there weren't many of us - players or managers - who didn't know his tricks," he said. "The problem was stopping him doing it.
"Hopefully Peter can be the same, so they know his tricks but still have him get by them.
"He's got to work harder for his goals and we've got to work harder to make certain that we support him in the right way. But he's got to realise that it's not going to be easy for him this year."
Odemwingie recently signed an improved contract at the Hawthorns, keeping him at the club until 2014.