The 35-year-old Stamford Bridge icon, who has scored 29 goals in 103 appearances, was captain when England were last in Brazil a year ago, one of six occasions he has skippered the side.
“Frank Lampard is vice-captain,” Hodgson said.
“Frank’s been the vice-captain all along in Steven [Gerrard]’s absences, which I think has been two, he’s stepped up quite brilliantly.
“I’ve always thought that he was going to be a key member of this 23 (squad) because of his experience and what he brings to the team apart from pure footballing ability.
“He brings a lot of other things to us in terms of his leadership qualities and characteristics.”
England will start their World Cup campaign against Italy on June 14 before further Group D clashes with Uruguay and Costa Rica.