Hodgson said: "Everyone is talking about Brede and I would say that he has certainly got the capacity to play for any of the top four clubs.
"But there is no reason not to be optimistic that we can keep this unit together through January.
"I am hoping he might be one of those who is satisfied with playing in what, in my opinion, is quite a good team in the Premier League and that he is not looking necessarily for that extra move.
"My other hope is there won't be that much money around in the transfer window, because it is pretty obvious that his value to this club is very high.
"But I cannot stand here and guarantee that Hangeland - or Jimmy Bullard, for that matter - will not go because you do not know what type of situation you are going to find yourself in."
Hangeland, 27, was one of the few stars in what really was a wretched advert for Premier League football.
Hodgson added: "I knew he was a good player and that he had the capacity to develop his game even more in England.
"Brede found it quite hard, I think, when he came in for the first few games because people and balls were flying around him.
"But he has got used to that and has developed into a first-class centre-half."