The former Chelsea assistant manager feels the captain's recent form should see him in contention for a World Cup spot despite retiring from international duty in September 2012
The Blues captain retired from international football in September 2012 ahead of being found guilty of racially abusing Anton Ferdinand, with the centre-back calling his position with the Three Lions "untenable".
Gary Cahill is currently first choice under Hodgson, but Wilkins feels that with the defender struggling for starts at Chelsea, the England boss should look to Terry.
"Gary Cahill hasn't been in the starting line-up for Chelsea and I think Jose [Mourinho] prefers David Luiz and John Terry, who Roy should have a little chat with because he was absolutely superb yesterday against Cardiff," Wilkins told BBC Radio 5 Live's 'Sportsweek'.
"I don't think we are blessed with too many centre-halves and if we could persuade John to have another go, we should.
"I have no idea [if he would be interested in an England return] because I haven't had the conversation with him. But it certainly would be one I'd be having if I was the England manager.
"I have absolutely no idea how it ended with him in the dressing room. I've never had the conversation with John. But all I can say is his reading of the game was absolutely superb yesterday."
Hodgson recently said it is "not the moment to start resurrecting" a debate over Terry's international career, and the Football Association's director of football development, Trevor Brooking, expects the England manager to focus on younger talents.
"At the time, everyone assumed it was case closed," Brooking added. "But you look at Phil [Jagielka} and Gary [Cahill], they have been the pairing for the last half a dozen games. Probably one player who has still to come back in is Phil Jones at Manchester United.
"I can remember him and Chris Smalling being outstanding in the under-21 tournament a few years ago but both those two have suffered injuries.
"But I think they will probably get their chance in the next two or three get-togethers in central defence to see if they can really make a bid to be one of those starting two. Probably they would get the first opportunity.
"With all the other options that Roy has got, [deciding not to recall Terry] will probably be his decision."