Despite the glaring miss last night, the Fulham fans gave Okaka a standing ovation when he was replaced by Nevland with 20 minutes left.
Hodgson, who takes his side to Bolton on Saturday, believes the Italian will be able to get over the miss sooner rather than later.
"I told him not to worry about it," the 62-year-old said.
"He's devastated by it because in Italy mistakes are magnified 100 times and I think it would take him years to live it down over there, but it will probably only take a few weeks here.
"If I was him I would put it into perspective by looking at the wonderful backheeled goal for Roma the other day."