Hodgson is confident the man who scored the winner for his country against Germany in South Africa will make a big impact at the club over the coming season.
"I'm very pleased we have got Milan," Hodgson told liverpoolfc.tv. "He looks a very keen and enthusiastic player and it's good to have players who are desperate to play for the club.
"I was not responsible for signing him but I was pleased to hear the club had taken the initiative to get a player like him. I've seen him a lot during my time at Fulham and we were watching him.
"He's a natural wide player who can play through the middle. He's more of an attacking winger than a wide midfielder and he's a goalscorer. He scores goals for club and country and I'm sure we'll get a lot of use out of him.
"He only joined us last night, so I don't think we'll use him at the weekend. He looks fit, but at this stage I think I'd prefer to use the players we have been working with all through pre-season."