Vardy received much criticism from pundits and fans alike in the wake of his alleged dive, but Hodgson has moved to support one of his star players:
"Vardy got sent off at the weekend, but once again I will go out on a limb: I don't see that. I don't see that as a dive. I just don't. I think he was unbalanced. I don't think it was a penalty either, I think he was unbalanced, running at that speed."
The England manager also responded to questions asking if Vardy's in game attitude concerned him:
"You take everything that the player brings with him. You take Wayne Rooney - he, in my recollection, was pretty hot-headed, often getting himself into scrapes on the field, but you take what the player brings."
The Foxes will be sweating on the outcome of an FA investigation looking into whether they should extend Vardy's ban due to his alleged improper conduct in the aftermath of receiving his second yellow card for diving.
Vardy will definitely miss Leicester's game against Swansea City on Sunday, and depending on the outcome on the investigation, he could be set to miss a further two matches.
Hodgson finished off by saying how he completely understands the Leicester man's reaction when leaving the field, and put it down to human nature:
"Unfortunately, he has reacted like sometimes human beings react. He hasn't just said to the ref, 'Thanks very much, I understand'. He has called him a few names, but he is a human being and that can happen."