Hodgson usually cuts a reserved and measured figure, but 15 years ago, shortly after being sacked by Blackburn, the 66-year-old lashed out at Sherwood in an uncharacteristic public attack.
Hodgson claimed that Sherwood - who was his captain at Blackburn - became a "major factor" in his dismissal.
The current England manager felt Sherwood had spread discontent in the dressing room at Ewood Park after he had seen a move to Tottenham temporarily fall through.
"(Sherwood) became very disenchanted with the club and everything around the place when he thought the proposed move to Tottenham had fallen through," Hodgson told Sky Sports after being sacked as Rovers boss in November 1998.
"His discontent spread to a lot of other players.
"These people did not have the strength of character or personality to stand up against somebody who was finding fault with most things.
"I don't think anybody should come in to a club and for their own selfish reasons start saying that certain players should stay or go."
Sherwood, who secured a move to White Hart Lane the year after Hodgson's departure, hit back at his former manager at the time by saying: "Managers only get sacked for one thing - and that's for results."
Sherwood will come into contact with Hodgson a lot more from now on after he was handed the Tottenham manager's position.
Ahead of a World Cup year it is vital that the England boss can communicate effectively with the head coach at one of the country's top clubs, and Sherwood sees no reason why he should not get along with his former manager.
"What problem?" Sherwood said when asked about his run-in with Hodgson in the past.
"Brian Kidd (was the one who) sold me (to Tottenham). I don't have a problem with Roy, no problem at all. I spoke to him the other day."
Sherwood cited Hodgson, Kenny Dalglish and George Graham as the people who have influenced his managerial style the most.
Given that this is his first post in full-time management, Sherwood has a long way to go to match the achievements of those three, but he is certainly not short on confidence.
Tottenham chairman Daniel Levy certainly has confidence in his new manager too.
Louis Van Gaal, Frank De Boer, and Guus Hiddink were all linked with the position at Spurs so Sherwood is thankful that he was chosen instead.
Asked whether being given an 18-month deal showed the board had faith in him, Sherwood said: "Yes, and I congratulate them for it.
"The length of the contract wasn't a deal breaker, it was the offer that came and I was pleased to accept it.
"I am not sure how many applicants they got but I'm sure it wasn't just a couple, there would have been quite a few I would suggest.
"Those managers would be available now. They are bigger names and more experienced names than Tim Sherwood in management. The board made their decision and I am grateful for that.
"I was as honest as I can be (with chairman Daniel Levy). I never went in there and thought 'what does he want to hear as I'm going to tell him it'.
"It was the fact that this is the way I see the game going forward. If he likes it he will give me the job and if he doesn't then he won't."
Sherwood's first Barclays Premier League game in charge ended with a disappointing 1-1 draw against West Brom.
Spurs are now eighth in the table, but Sherwood, who faces Stoke on Sunday, is still hoping for a successful season.
"Of course it (will be) tough. No one said it was going to be easy, but I am confident," he said.
"I have always been a confident person and I need to have that belief that hopefully breeds into the players."