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 scored in the World Cup, he's done well with Standard Liege at Champions League level, so he's no stranger to the big games.
"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."