The midfielder made his 94th appearance for the Three Lions during the 2-1 win over Brazil at Wembley, scoring his 27th goal in the process. Ashley Cole became only the seventh ever national centurion.
With Lampard's Chelsea contract expiring in the summer, there has been much speculation as to whether he will remain at Stamford Bridge or move abroad, with MLS suggested as a possible destination. Hodgson hopes that Lampard does not follow the example of David Beckham.
"I think he can [make it to 100 caps]. I hope Frank stays in Europe," Hodgson said. "I don’t know what his future is at Chelsea – that's between him and the club – but I know he's going to have a lot of offers if he decides to leave, and I hope we still see him in Europe next season, because it makes my task a bit easier. If he does follow David it complicates things, but it doesn't rule it out."
Beckham spent six years with the Galaxy, winning the MLS Cup in each of his final seasons in California. However, he frequently struggled to work his way into the England picture, going on loan to AC Milan twice during MLS offseasons to try to increase his appeal to former England boss Fabio Capello.
Most recently, Beckham was overlooked as an overage player for the Great Britain Olympic team.
Based on Hodgson's comments, Lampard could face similar concerns should he sign for the Galaxy when his contract expires this summer.
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