Rooney was injured in training and missed Manchester United's 1-1 draw away to Shakhtar Donetsk in the Champions League on Wednesday but manager David Moyes expects him to be fit to face Sunderland on Saturday.
"Wayne Rooney will be okay for Saturday," said Moyes. "He clashed shins with Danny Welbeck (in training). At a push we probably could have risked him but we decided not to."
Hodgson said he was confident Rooney would be fit to join up with the squad.
"We are reliably informed that it's not a serious injury and it won't stop him joining up with us," he said.
Hodgson looks set to pair Rooney with Liverpool striker Daniel Sturridge, who also returns to the England set-up after injury.
Sturridge was previously absent from England duty with a thigh injury while Rooney's United team-mate Danny Welbeck was missing through suspension.
The England manager said he was looking forward to seeing Rooney play alongside Sturridge.
"I was thinking these two players are in great form," Hodgson added.
"I'm happy that at the moment things are looking very good squad-wise.
"I'm very hopeful and very confident that these group of players, as long as they come through this weekend's games, they will take us there (to the World Cup finals in Brazil)."
Goalkeepers: Joe Hart (Manchester City), Fraser Forster (Celtic), John Ruddy (Norwich City).
Defenders: Leighton Baines (Everton), Phil Jones (Manchester United), Gary Cahill (Chelsea), Phil Jagielka (Everton), Chris Smalling (Manchester United), Ashley Cole (Chelsea), Kyle Walker (Tottenham).
Midfielders: Steven Gerrard (Liverpool, capt), Frank Lampard (Chelsea), Tom Cleverley (Manchester United), Ross Barkley (Everton), Jack Wilshere (Arsenal), Michael Carrick (Manchester United), Theo Walcott (Arsenal), James Milner (Manchester City), Andros Townsend (Tottenham).
Strikers: Danny Welbeck (Manchester United), Daniel Sturridge (Liverpool), Jermaine Defoe (Tottenham), Rickie Lambert (Southampton), Wayne Rooney (Manchester United).
You can watch Manchester United's next game live on Sky Sports - they take on Sunderland on Saturday Night Football, Sky Spors 1HD at 5pm