England manager has confirmed will lead the team out for Wednesday’s friendly match against the Republic of Ireland.
Frank Lampard will fulfil the media responsibilities of the captaincy in the absence of Steven Gerrard, but Cole will wear the armband as a reward for reaching 100 international caps.
Wednesday’s match will actually be Cole’s 102nd appearance for England, but the match offers an opportunity for him to be honoured for joining an exclusive club of international centurions.
Hodgson told Sky Sports News: “Frank's always been the captain in Steve's absence. I appointed him when I started over a year ago.
“But in actual fact, Frank and I have discussed this and Frank's happy for Ashley to lead the team onto the field in celebration of his 100th cap, which he'll receive tomorrow.”
Lampard himself took the opportunity to pay tribute to his Chelsea team-mate’s longevity and consistency for both club and country over the past decade.
“The way Ashley has performed over those 100 caps, he is the most consistent left-back probably in world football over such a long period of time,” the 34-year-old insisted.
“It's the perfect gesture and very much deserved from England.”
Turning his attentions to Wednesday’s opponents, Lampard warned there will be no room for complacency when England take on Giovanni Trapattoni’s Republic of Ireland.
“The type of player that they have, a lot of them play in the Premier League so that adds to the competitiveness of the game,” he added.
“I have a lot of respect for the Republic of Ireland. Every game I see them play, the organisation, their desire to get results and they are very proud to play for their country.
“We have to show the same and try and trust in our ability to come out on top.