Hodgson believes the likes of Shane Long, Gareth McAuley and Billy Jones - plus the squads at the newly-promoted clubs - are helping to dispel any notion that players in the lower leagues cannot make the grade in the Barclays Premier League.
"I think there will be lots of contenders for the epithet of 'bargain of the season' because some good players have been brought into the Premier League this season," he told the WBA website.
"Players like Shane Long and Danny Graham at Swansea kill the myth that has been perpetuated through the years that if you play in the Championship, that's the only place you can play, and that to be a Premier League player, you have either got to be playing there already or someone's got to pluck you from another country.
"It's nice to see players like Long, McAuley, Jones and Graham - and the rest of the players at, say, Swansea and Norwich - are showing that it is nothing absolutely particular that makes you a Premier League player.
"What you have got to be is good at your job.
"You can be good at your job stepping up from League One, even, into the Premier League just as well as you can be very good at your job moving from the Spanish or French leagues.
"There are no definites in that respect.
"It's all about scouting and recruitment and this club should be very proud of Dan and what he does in his role as Sporting & Technical Director because his record in terms of unearthing players is something quite incredible."