Hodgson selected Hart as one of the three goalkeepers in his 23-man squad for Brazil and believes he is 'one of the best there is', but is not willing to heap unnecessary pressure on the 27-year-old.
Hart went through a difficult period earlier in the season, which led to him losing his place between the City sticks. However, he came back strong and was a key member of a side that pipped Liverpool to the title by two points.
Hodgson said: "When we went to the Euros in 2012 he was ‘the best goalkeeper in the world’, then a year later he couldn’t get into the Manchester City team and people were saying the guy is hopeless.
"I think he’s a very good goalkeeper. He’s definitely one of the best there is and we’re delighted to have him. But I’m going to shy away from giving him ‘you’re the best in the world.’
"He’s had a very good season and he’s going into the World Cup full of confidence. Hopefully we can profit from that."
Despite Hart's heroics for his club this season, he was unable to prevent another England World Cup call-up from scoring in a recent Premier League encounter.
Ross Barkley bagged a sensational strike for Everton that briefly jeopardised City's title hopes earlier this month.
Though the visitors to Goodison Park fought back to win 3-2, Barkley was in impressive form, highlighting why he had been in the England Manager's reckoning.
And, having already handed three caps to the precocious 20-year-old, Hodgson admits Barkley was in his World Cup plans long before the goal against Manchester City.
"We've had Barkley in this 23 for a while," revealed Hodgson. "I don't want people expecting Ross Barkley to be the Ross Barkley who played against City because I've also seen him in other games where he's been different, not played as well, been taken off. I find that totally normal.
"He's in a position where he plays on very small margins. Sometimes the margins work, sometimes they don't.
"But we picked him because we think he's got potential to do some very exciting things during this World Cup. Because we think he's going to be, if he continues, a very good player."
Hodgson added: "I did say I was quite prepared not to go to matches in the last two or three weeks because I was determined not to suddenly get a change of heart if a player I'd been counting on played badly in a game or someone I'd not been counting on had a good game.
"I had enough time from October to the middle of April to make decisions and didn't need to see a great goal or a terrible slip-up to make me change my mind."