New England manager believes that his former FC Copenhagen captain will be a success at Molineux and told of the pair’s close friendship forged during his time in Scandanavia
The 64-year-old worked with the Norwegian at FC Copenhagen, where he was Hodgson's captain in a side that won the club's first championship in almost 10 years in 2000-01.
They have remained close friends since and the newly-appointed Three Lions coach has praised Wolves' decision to hire Solbakken.
"I'm delighted because he is a good friend but also because I think it is an excellent appointment," Hodgson told reporters.
"And I think it is a good, exciting move by Wolves. It's not an appointment many would have expected from a part of Europe from which English clubs do not usually recruit.
"But I can tell Wolves fans they have hired a superb coach – Stale is a bright, young and impressive coach with good ideas and I am confident he will do well."
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In 2001 Solbakken collapsed in training while Hodgson was in charge and a heart defect was discovered, an episode which, the departing West Brom manager explained, bonded the two.
"When something like that happens, it naturally brings you closer together and since then Stale and I have been good friends," he added.
"But he was a terrific captain for me, a fine footballer, and my assistant in that season at Copenhagen.
"I left after that and Stale took over and went on to have the most amazing success. Five championships in six years – that was a wonderful effort.
"He is a fine coach in my view with good ideas. I congratulate Wolves on an impressive appointment."