"Of course I admire him, it is incredible to still have the passion to be a manager at his age," Guardiola said when asked about Hodgson's continuing appetite for football management.
"It's incredible and he's doing really well and yet he took over when they had zero points and everyone considered Crystal Palace relegated.
"He is doing an incredible job and it's a pleasure and an honour for me every time we face him, we have a good relationship."
As for what lies ahead for him, Guardiola added: "When you retire you have curiosity to do other things.
"The problem is when you have no interests to do anything else and you are at home doing nothing. If afterwards you want to enjoy other things, why should it be a problem?
"I am interested in other things and I think I am going to do them when I am not a manager but I enjoy being a manager.
"If I still like it and have an offer and still have the passion, and I'm comfortable, then yeah.
"I didn't say I'm going to retire the next week or the next year. I don't think I will still be a manager at this age but I don't know."