The 32-year old Liverpool captain took out the 2012 prize ahead of Danny Welbeck and Ashley Cole after a fans vote on TheFA.com following his consistent performances for the Three Lions in the 11 matches he played last year.
Hodgson was full of praise for Gerrard who he feels is a great role model for the young players in the national team setup.
"In Steven the younger players can look at someone who has 100 caps, and they must think 'goodness me, he started at the same age I am, but he's still here 14 years later' and what a career he's had," Hodgson said.
"In Steven's case he has a great enthusiasm and passion to play, and that can be infectious to other players. The other thing about Steven is that he is not a player who can be pigeon-holed, he is an all-round midfielder capable of contributing right across the pitch from defence to attack.
"I can see him playing for many years to come."