The 23-year old Tottenham right-back has been ruled out of Wednesday night's friendly with Denmark at Wembley after missing the past few club fixtures with Spurs with as hip injury.
Hodgson has indicated that Walker is key figure in the Three Lions setup and wants him to get back to 100% as this summer's World Cup looms closer.
"We were rather hoping when I selected the squad that he would recover and play for Tottenham at the weekend and be fit to play for us, but unfortunately he will need another week we think before he will be able to be fit to play so we've had to let him go," he told reporters.
"He was with us last night - we had a 'Brazil' meeting to put forward a few ideas about what our plans are going forward for the whole of squad so he was with us for that but when we went to Tottenham this morning he stayed there and continued to get treatment."
Walker made his England debut in a 1-0 win over Spain in November 2011 and has now tallied 10 internationals for his country.
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