And the Three Lions boss has also suggested the 19-year-old may emulate Everton's Ross Barkley by kicking on by the time the Euro 2016 finals come around.
Barkley was voted England's man of the match against Estonia on Friday night, with the Everton attacking midfielder playing with plenty of creative freedom.
And Hodgson told reporters: "Don’t start pushing too much with Dele Alli. It’s not out of the question he’ll play, I haven’t made my mind up about the team but Dele Alli was brought in as we thought he is an interesting talent.
"We’re thinking that by the summer he might have kicked on even further, like Ross has kicked on in the last year.
"If everyone was fit there might not have been a place for him in the squad, the place came in the squad as a lot of people dropped out, but he understands that he has a big England future."
It's easy to see Alli having the same impact at Tottenham as Barkley has had at Everton, in truth.
Where the 19-year-old may have to become more attacking and ambitious on the ball - something that will come with time - he already looks more composed than Barkley, who can often be very wayward for both Everton and England, especially on one of his off days.
What seems clear already is the fact Alli does indeed have a big future with the Three Lions, as does he at club level. Hodgson is also right, though, in that there shouldn't be too much emphasis placed on him just yet.