Loftus-Cheek has enjoyed a terrific season whilst on loan at Selhurst Park from parent club Chelsea, scoring twice and providing four assists in 24 Premier League appearances, while his performances earned him a place in Gareth Southgate's England squad for the World Cup in Russia in June.
Despite only making his debut in November, earning the man of the match award against Germany, Hodgson has backed the selection of Loftus-Cheek, also taking the time to lavish praise on the midfielder following his breakout season.
Speaking to the Times at an event hosted by the publication, Hodgson said: "He has got all the qualities you are looking for in a central midfielder. In the games he has played (at Crystal Palace), he has been almost our best player in every one of them.
"We have Wilfried Zaha of course, but he has certainly been on his coat-tails. I have not worked with many players better than Ruben Loftus-Cheek and what he can be. He has the chance to be a really top player at club and international level because he doesn't have any weaknesses."
After playing an integral part for the Eagles as they avoided relegation despite beginning the season with seven defeats from their opening eight games, Palace fans will be desperate to keep hold of Loftus-Cheek, although his performances could earn him a place in Chelsea's starting lineup come next season.