The Chelsea left-back will take the captain's armband in the absence of Liverpool's Steven Gerrard and manager Hodgson was thrilled to see Cole get his leadership chance in his 102nd cap for his country.
"The way Ashley has performed over those 100 caps, he is the most consistent left-back probably in world football over such a long period of time," he said.
"It's the perfect gesture and very much deserved from England.
"I have been lucky enough to play with him for both club and country and with the competition he has had - you talk about Leighton Baines in the last few years, what performances he has put in - and Ashley still remains very much the first person on the sheet when he is fit.
"So fair play to him for that. There are not many players who get to the 100 and do that."