The Eagles and Foxes are two of nine sides in danger of demotion approaching the business end of the campaign, sitting 12th and 17th respectively but separated by just a two-point chasm.
Match preview
Still possessing the taste for management at 75 years young, Hodgson returns to Croydon less than two years after bidding an emotional farewell to the Crystal Palace faithful, with the aim of steadying the ship after the sacking of Patrick Vieira.
While some believe that re-hiring Hodgson points to a lack of a long-term plan from the Eagles board, the former Watford, Liverpool and England boss is only under contract until the end of the season, by which point he would have either succeeded or failed in his task to keep Palace afloat in the top flight.
Patrick McCarthy's one game in charge went about as well as expected, as Palace went down 4-1 to league leaders Arsenal before the international break, succumbing to strikes from Bukayo Saka (2), Gabriel Martinelli and Granit Xhaka while netting a consolation through Jeffrey Schlupp.
Now winless in 13 games across all tournaments since the New Year, Palace have somehow managed to retain their 12th-placed standing in the table, but neither they nor any of the eight teams below them are safe from the drop - Hodgson's side are only four points better off than Southampton in 20th place.
One of the most mouthwatering relegation battles in the Premier League era will soon materialise, and the immediate job at hand for Hodgson is to end a four-game losing run for Palace, who have just the one goal to boast from their last 450 minutes of top-flight football.
Very few silver linings have broken through the clouds over the King Power Stadium in recent weeks, but ending a five-game losing run at the home of European outsiders Brentford just before the international break raised a few wry smiles.
Mathias Jensen had drawn first blood for Brentford before half time, but Harvey Barnes responded seven minutes after the restart before Shandon Baptiste was sent off in the dying embers - there was barely any time for Leicester to make their numerical advantage count, though.
By clinching a point at the Gtech Community Stadium, Brendan Rodgers's charges ensured that they would not enter the international break in the bottom three, but the 17th-placed Foxes are just one point better off than West Ham United and Bournemouth - the former of whom have a game in hand.
Jensen's strike for Brentford saw Leicester's miserable run without a clean sheet stretch to eight games in all tournaments - they are the only side without a shut-out since the World Cup - but their tally of 24 first-half goals in the current Premier League season is more than a shot-shy Palace have managed overall (22).
Not since February 2019 have Leicester suffered defeat to Palace - going unbeaten in their last seven against the Eagles - but October's meeting at the King Power Stadium ended goalless, in a showing that Palace fans have become accustomed to seeing from their side in the past few months.
Crystal Palace Premier League form:
D
D
L
L
L
L
Leicester City Premier League form:
W
L
L
L
L
D
Leicester City form (all competitions):
L
L
L
L
L
D
Team News
Palace were forced into a last-minute change for the defeat to Arsenal, as Joachim Andersen sustained a calf injury in the warm-up and was unable to link up with the Denmark squad for their Euro 2024 qualifiers - Hodgson should give an update in his pre-game press conference.
Goalkeeping duo Sam Johnstone and Vicente Guaita also remain doubtful alongside James McArthur - who is in with a good chance of coming back from illness - while Nathan Ferguson continues to build up his fitness on the training pitches.
Arsenal loanee Albert Sambi Lokonga is back at the Eagles' disposal after being unable to face his parent club, so Luka Milivojevic's brief run in the XI may come to an end if Lokonga can prove his worth to Hodgson straight away.
Regarding Leicester, James Justin and Youri Tielemans will definitely miss out here, while Harry Souttar withdrew from Australia duty with an ankle injury and has emerged as a doubt for the trip to London as well.
Further fitness concerns for Rodgers to take into account include Victor Kristiansen, Jonny Evans and Ryan Bertrand - the latter of whom will certainly not start after a lengthy absence - while Jannik Vestergaard was recently ostracised from first-team training after questioning his lack of game time under Rodgers.
On a brighter defensive note, Wout Faes is back from a ban and will either start alongside Souttar or deputise for him, while Barnes is one goal away from reaching double figures for the first time in a Premier League season.
Crystal Palace possible starting lineup:
Whitworth; Ward, Tomkins, Guehi, Mitchell; Lokonga, Doucoure, Schlupp; Olise, Ayew, Zaha
Leicester City possible starting lineup:
Iversen; Pereira, Souttar, Faes, Castagne; Ndidi, Dewsbury-Hall; Tete, Maddison, Barnes; Iheanacho
We say: Crystal Palace 0-0 Leicester City
Hodgson will not be expected to fix Palace's woeful attacking fortunes overnight, and shoring up at the back should be the 75-year-old's immediate priority, especially with both teams likely fearful of defeat in this one.