With Steven Gerrard ruled out following shoulder surgery, Hodgson has three potential captains for the May 29 friendly with the Republic of Ireland at Wembley; Rooney, Frank Lampard and Ashley Cole.
Although he is officially being presented with his 100th cap, Cole has never shown any inclination to take on the skipper's role, still less get involved in the media obligations that come with it.
And the added complication is that Cole and Lampard will not even arrive in the UK until Sunday afternoon, before heading straight to St George's Park, doubtless jet-lagged from a transatlantic flight following the second of Chelsea's post-season friendlies against Manchester City.
It puts Rooney in pole position to carry out the role for the third time despite the difficulties he has been experiencing at Manchester United.
"He knows he is right up there," said Hodgson.
"He has captained England once for me, at home to San Marino.
"I know he enjoyed that experience and I am pretty sure there are times when he will captain England again."
At least it will provide some kind of distraction for Rooney, who went to see Sir Alex Ferguson three weeks ago and asked for a transfer.
Ferguson has already confirmed the request has been turned down, but urged the 27-year-old to get away in the summer and sort his head out.
That point was reinforced at the weekend by Hodgson's assistant Gary Neville, who claimed Rooney has not been mentally right for weeks.
"There are rumours circulating about whether he wants a move and if Manchester United are prepared to sell him," said Hodgson.
"I am not prepared to start making public statements about what I think is best for him.
"It's a matter for Wayne and Manchester United. I'm sure it will all get sorted between them.
"As far as I am concerned, it's about what he does for England."
Rooney has spoken to Hodgson to assure him the impending birth of his second child will not prevent him from meeting up on May 26, at the start of an eight-day gathering that also includes a game against Brazil in the world famous Maracana Stadium.
"I was concerned but Wayne was at great pains to assure me that he was really looking forward to playing for England and it's something that's at top of his agenda," said Hodgson.
"That's enough for me. I've no reason to doubt him."
Rooney's discontent with Ferguson stems from continually being played out of position, usually in central midfield, or getting left out altogether, as was the case for that key Champions League encounter with Real Madrid in March.
"Unfortunately this is what happens sometimes with players who are capable of playing different positions," said Hodgson.
"They do get moved around, especially at big teams where there are other good players vying for positions with them.
"We regard Wayne as a forward, either in the advanced number nine position or alongside a more advanced player.
"We know he can do that. We know he is happy doing that. But in club football things can vary."
It is why there is still a major debate over Phil Jones' best position.
He signed for United from Blackburn as a centre-half and most accept that is where he will end up in the future.
But he hardly ever plays there for his club, with Ferguson preferring to use him at right-back or a midfield holding role.
"If Phil Jones wants to play centre-half for Manchester United he has to get in front of Nemanja Vidic, Rio Ferdinand, Jonny Evans and Chris Smalling," said Hodgson.
"As a result Sir Alex has used him at full-back or central midfield.
"My impression is that he is a centre-half. He came to Manchester United as a centre-half and I think that's where he'd want to play.
"Quite frankly his chances of establishing himself in the England team are probably as great at centre-back than full-back."
Hodgson has decided to offer a recall to Andy Carroll in the squad he will announced in Luton tomorrow.
It is the first time Carroll has been involved since the World Cup qualifier in Poland last October, when the burly forward was an unused substitute.
Carroll has ended the season at West Ham in fine form though and will bring additional steel to a 22-man squad that is also expected to include at least one new face, which could turn out to be Swansea midfielder Wayne Routledge.