The Manchester United striker missed Sunday's Community Shield win over Wigan with what the Barclays Premier League champions described as a shoulder injury, but he was training from 10am at St George's Park today.
Asked how Rooney was, Hodgson told a press conference televised by Sky Sports News: "Good, just as I expected really. It's difficult to assess with the naked eye how match-fit people are, but there's no doubt in my mind that he's not suffering from a physical injury.
"It will be interesting to get the feedback from our training sessions and we can see how he looks. We'll speak with Wayne tomorrow morning."
Hodgson added: "Since he's got over the injuries he's not been able to train as intensively as we did today, so we'll see how that pans out.
"He tells me that he's been training on his own while Manchester United have had games, on some fitness work, but he hasn't had a chance to do a session like we had today where he was involved in functional aspects of play.
"I expect him to tell me that everything was fine and I expect him to get up fit and ready to go tomorrow morning as well."
Hodgson is also eager for the 27-year-old to resolve his current situation with United, but believes Rooney is too good a player to ignore even if, for whatever reason, he is not a regular at club level.
The Red Devils have rejected two bids from Chelsea, and the player's future remains the subject of speculation.
"It would be very nice if (his future is clarified) both for him and his club, and of course my hope and desire is that will happen," Hodgson added.
"In my year and a bit as national team manager I've been faced with the situation where players are not necessarily always playing in their team, but because they have the qualities we're looking for, they still manage to be selected.
"I'm hoping that will be the case with Wayne, but I'm not prepared to make any statements that if he's not playing for a club side he can't be considered for England."
The former Liverpool boss also sang the praises of Rickie Lambert, who has earned his first call-up for England.
He said: "Like Wayne (Rooney), he is a fantastic enthusiast and someone who is delighted to be here.
"He didn't look out of place in the training session.
"It was good to work with him today and I look forward to the next couple of days.
"I am sure when Wednesday evening is over I will know much more about Rickie Lambert."