Hodgson was appointed on a four-year contract on Tuesday, but must complete the season with his club West Brom before turning his attentions to England's campaign in Poland and Ukraine this summer.
The former Liverpool boss already has international experience, but Capello - who revealed he would like to manage in the Premier League - stressed that being a national team manager is not "a normal job".
Quoted in tomorrow's Times newspaper, Capello said: "As a club manager, you are a manager. As a national team manager, you are a selector.
"You cannot work with and get the best out of the players all of the time because some are injured, some are not in a top moment, some are unhappy with their club's position, some have a problem with their manager.
"It's not a normal job. It's difficult to create something. You can't do something in a short space of time.
"The idea is to create the team spirit and winning mentality in a really short time. This is very difficult. It will be hard.
"And the other thing is that you don't play a lot of games. In nearly every game, you are either in or out."
Capello hopes England perform well this summer to vindicate his work during qualifying.
"I've known Roy since he was coaching in Italy and I have met him often in these last few years," the Italian added. "I believe he is a very good and experienced manager. I wish him all the best for the future and Euro 2012.
"I'm happy with the job I did for England. I hope that England will be one of the best teams at the Euros and they can show my job was really good. If things go well as I hope, people will recognise that I did a good job."
As for his future, Capello admitted he was looking for one final job with a top European club.
"At the end of my career, it would be interesting to find a team with big motivation to arrive at the top," he added.
"England would be very interesting for me because I know very well the teams and the players, and everything would be less difficult. It would be easier for me in England.
"And my English is not so bad!"