Agger has been out of action since September, whilst Gerrard picked up an injury whilst on international duty with England in November and has been sidelined since.
Hodgson explained today that having had Liverpool’s last two games postponed – at home to Fulham and away at Blackpool – due the snowy and freezing weather conditions of late has bided more time for his players to recover and rest.
“Both are very experienced players, both know their jobs and both once fit are always ready to step in,” Hodgson told the club’s official web site.
“Steven has actually been fit and ready for the last two matches which were called off.
“Daniel was ready for the last game but it hasn’t hurt to have another few days with him. He hasn’t played for a longer period of time so there’s an argument he’ll lack a little bit of match fitness, but he’s certainly fit enough to start matches. And you can’t get match fitness until you play.”
Liverpool vs Wolves gets underway at 8pm on Wednesday night at Anfield and is live on Sky Sports.