Crystal Palace will be without Bakary Sako for the remainder of the season after he fractured his ankle against West Ham on Tuesday.
A heavy challenge from Pablo Zabaleta late in the first half of the 1-1 draw at London Stadium left Sako requiring treatment.
Not only has Sako injured his ankle, he has also sustained ligament damage and Hodgson expects him to spend a lengthy spell on the sidelines.
"Baky's injury is a very serious one. He's fractured his ankle and damaged ligaments around it," Hodgson told a media conference on Friday.
"He certainly won't play again this season and may be a doubt to be fit for the start of next season.
"Coming as late as it did – the night before the transfer window was due to close – didn't really give us that much opportunity to change any plans because we were counting on him."
Hodgson was able to bring one attacking replacement in before the deadline in Alexander Sorloth, and the former England manager was delighted to acquire his top target.
"He was our first-choice striker target and will likely be in the squad on Sunday," added the 70-year-old.
"We watched Sorloth a lot. We knew what we were signing.
"He'll need a little bit of time to adjust, he's not played competitively since November, but we have a two week break coming up where he can get his feet under the table."