Gerrard was absent for four Premier League games - which included home wins against West Ham and Aston Villa plus away defeats against Tottenham and Newcastle - as well as the Europa League draw with Steaua Bucharest.
"He would have been fit to play against Fulham as well," added Hodgson. "[But] it doesn't hurt to have an extra week to get some training in but what he needs now is matches.
"Daniel Agger is also fit so there are only two players unavailable to me, one of whom is Jay Spearing who suffered a break to his ankle and is a month away.
"Jamie Carragher [dislocated shoulder] is still nine weeks away from coming back, if we are to believe the doctors, but knowing Jamie it would not surprise me if those nine weeks became less than that."
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