The 21-year-old has been impressive for the Eagles since arriving from Reading in 2021 for just over £8m, which proved to be a great deal.
Olise has a release clause of £35m in his Crystal Palace contract and both City and Chelsea are interested in signing him this summer, with the Blues reportedly making an initial offer of £26m although that has not been accepted.
On whether the youngster will still be a Palace player come the end of the transfer window, the former England manager admitted he is in the dark, but believes Selhurst Park is the best place for Olise right now.
‘No one knows really at this moment in time,’ Hodgson told Sky Sports News.
‘If there are clubs who are desperately or seriously preparing a bid and tempting him away then he’ll have a decision to make. I can only wait and see if there are clubs who are going to come in and make those bids and tempt him away, and in that situation what decision is he going to make, because he also knows that we are really very keen to keep him here.
‘We really believe this is a good place for him and that we can provide him with a very good platform to go forward in his career. But unfortunately these matters are totally out of my hands – everything will depend I suppose on what happens in the future.
‘You can never be certain as a manager that the players you’ve got, you like and you want are always definitely going to stay because we have a transfer market.’
Hodgson is desperate not to lose Olise after already seeing Wilfried Zaha leave for Galatasaray this summer on a free transfer.
MORE : Chelsea agree personal terms with Michael Olise after making £26m bid for Crystal Palace star
MORE : Crystal Palace have ‘fight on their hands’ to keep Chelsea and Manchester City target Michael Olise
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