The winger has been linked with Arsenal and Tottenham this season.
When asked whether he expects there to be interest in Zaha, Hodgson said: “He is an obvious name but there are other players, too. I would not be surprised if other players were wanted or thought could be good additions. We have to be prepared for that.
“If offers come along for players who are doing well for us that we are not particularly anxious to lose, decisions will have to be made by the club as to what offers are to be turned down and what offers are to be accepted."