He will turn 34 a month before the next World Cup.
But Hodgson said: "I can see him playing for many years to come, the only thing that could stop him would be a serious injury. God forbid, because he can deal with anything else."
He added: "He is young enough in his body and mind to look certainly towards 2014 and maybe beyond. Steven understands he has the full respect of myself, the coaching staff and players. All we can hope is a guy like him stays around for even longer."