Belgium international Benteke, who is yet to register a goal this season, underwent minor knee surgery last month and was expected to be out until the New Year.
But speaking ahead of Palace's visit to Manchester United this weekend, Hodgson provided a positive update on the recovery of their record signing.
"We've still got the longer-term injury concerns, but Connor Wickham actually took part in his first training session in a long time today so that is positive [news]," Hodgson said.
"Christian Benteke is making exceptionally good progress. And the medical people are very happy with the way that he is applying himself and how hard he is working to come back as soon as possible.
"Scott Dann we think will be back with us on Monday," Hodgson added.
"It's good news for the players that have come back from international football, despite the fact that Mamadou Sakho took a knock in the game [between France and Uruguay on Tuesday night].
"It looks like he is going to be fit as well. So it's positive on that front - we have everyone available that I was expecting to be available."