Eagles in fight to keep Wilf
and Tottenham are all sizing up moves for the 25-year-old winger.
And Hodgson admitted: “If Wilf continues as he is, then the club will be faced with a situation where someone wants to put a lot of money on the table in order to prise him away.
“That will be a massive decision for the club as I know how much everyone at Palace appreciates him and he is the last person we want to lose.
“It is no good making bold statements that this and that won’t happen because things do happen and when they do, you deal with them.”
Zaha started his career with the Eagles and is a firm favourite at Selhurst Park. He previously left Palace for Manchester United in 2013, but returned to south London full time in 2015 after making just two appearances for the Reds.
This season, he has scored four goals for the Eagles and his impressive form has marked him out as one of the Premier League’s stand-out stars.
“Speculation is what it is,” Hodgson added. “The only time I will ever get interested in a situation is if the chairman comes to me and says there is a situation the club has to deal with.”