Hodgson has been impressed by Moyes ever since the Scot flew out to Italy over a decade ago to observe his work at Udinese.
At the time, Moyes was still in charge of Preston, although it was not long before Everton spotted the attributes United have been taken with now.
However, Hodgson is acutely aware of the increasing demands being placed on managers.
And he has seen how the desperation for success has triggered bewildering decisions that in Blackburn's case has led to four managers being installed this season.
Hodgson is crossing his fingers the United hierarchy do not get sucked into the same short-term thinking because he knows Moyes has a huge amount to live up to.
"David's record speaks for itself," said Hodgson.
"I can only wish him good fortune because he's stepping into enormously big shoes.
"There's a massive shadow and we can only hope the fans listen to Alex's fantastic words at the end of the game the other day, and that the people of Manchester United listen to them too.
"United have been pretty spoilt in Alex's reign but there are other clubs out there.
"It is not a given that being Manchester United you're going to go out and win everything there is to win."
Hodgson is keen not to be seen as passing judgement on United's choice to hire Moyes.
He does not even want to champion the move as being good for English coaching, claiming: "I'm not interested in that debate. I watch players not managers."
But, after following Moyes' career at close quarters since his own return to the Premier League with Fulham in 2007, he is prepared to accept Moyes has all the attributes required.
"David Moyes has been a friend since the time he visited me when I was at Udinese," he said.
"We've been more than colleagues and acquaintances for a long time.
"I've followed his career very closely in the last five years and he's done a fantastic job at Everton.
"He always acquits himself very well. He behaves in the right way and his teams play good football.
"I'm happy he's been given the chance to manage Manchester United but it's not for me to emphasise whether they are doing the right thing. That's purely their business."