The Eagles loanee has done well during the first half of his season-long spell, winning an England call-up on the back of some fine displays.
Chelsea’s move to sign Ross Barkley from Everton may further reduce Loftus-Cheek’s first-team prospects at Stamford Bridge and has given Hodgson encouragement that a long-term deal can be done.
Asked about the 21-year-old midfielder, Hodgson said: “He’s a player we’d like to have at our club, there’s no doubt about that.
“Ruben’s a player we like very much. We’re very impressed with him, delighted with the way he’s developed as a player during the time he’s been here. I’m pretty sure that if he’s ever available for sale, we would certainly be in there with our hand up as one of the potential buyers.
“It could well be that Chelsea would like to have both Ross Barkley and Ruben Loftus-Cheek in their team. I wouldn’t mind both in my team, anyway.”