Striker Wayne Rooney is the Sky Bet odds-on favourite to succeed Steven Gerrard after recently inheriting the captain's armband from Nemanja Vidic at Manchester United.
The Manchester United striker has captained his country on two occasions, most recently against San Marino in October 2012 in a game England won 5-0, with Rooney scoring twice.
Following the retirements of Gerrard, Frank Lampard and Ashley Cole, Rooney is by far the most experienced of the players available to Hodgson.
The 28-year-old has 95 caps and has just been appointed skipper of Manchester United, while Gerrard labelled him "a natural leader."
The Liverpool man added: "Aside from being a top player, one who commands respect within the group, Wayne is passionate about representing his country and won't be fazed by the responsibility."
Hodgson is being tipped to name a number of uncapped players in his group, with Tottenham Hotspur duo Danny Rose and Eric Dier, Calum Chambers of Arsenal, and Aston Villa’s Fabian Delph all believed to under consideration.
Rose could serve as the understudy to Everton’s Leighton Baines, with Manchester United’s Luke Shaw and Kieran Gibbs of Arsenal both currently sidelined through injury.
Dier, 20, and Chambers, 19, have both impressed in the early Premier League season with assured displays for their new clubs. Dier joined Spurs from Sporting Lisbon while Chambers moved to the Emirates from Southampton, and both can play at either centre-half and right-back.
With Ross Barkley, Michael Carrick and Adam Lallana all injured, Delph may receive his first call-up with Hodgson looking to explore alternative midfield options following the retirements of Steven Gerrard and Frank Lampard.
Watch Roy Hodgson name his England squad along with his captain live on Sky Sports News HQ this lunchtime.