Hodgson saw his side make a disappointing early exit from the World Cup during the summer before bouncing back with six successive wins in their new Euro Qualifying campaign.
Roy Hodgson was enthused by his side's win over Scotland in November
And with a number of young players settled into the squad, mixed with more experienced heads, Hodgson says the group are growing more and more aware of the responsibility and pressure that comes with playing for England as they approach 2015.
"I think the players are coming to terms more and more with the fact that because we are England, people have high expectations," he revealed to FATV in his review of 2014.
"There won't be many free games for us where we'll go in as the underdog, when people will shrug their shoulders if we lose and say 'well what can you expect, we're only England'.
"We want the challenges, so I would just ask some people to bear in mind that the players are more than prepared to accept that challenge, they are more than prepared to accept that responsibility.
"They are still young and unfortunately you can’t put 250-top class games and experiences into a player who has just broken into his club's senior team for the first time.
"But I'm pleased we've had a good run of games, I'm pleased that, in my opinion, the team is playing some good football and is showing signs of a bright future.
"Sometimes you should perhaps retain your bad experiences because that might push you harder in the future to make certain they don't get repeated."
After their flying start to Euro Qualifying, Hodgson’s side brought the curtain down on the year last month with a memorable victory over Scotland in a friendly at Celtic Park.
Watch highlights of November's game in Glasgow
A goal from Alex Oxlade-Chamberlain and a brace from captain Wayne Rooney helped Hodgson’s team finish 2014 with a 3-1 win and gave some much-deserved cheer to the England fans.
And boss Hodgson was pleased with the way his players tackled that game in a red-hot atmosphere in Glasgow.
"I wasn't surprise at all, I'd be very surprised if we hadn't [won the game]," he admitted.
"With respect to Scotland - they've done extremely well and Gordon Strachan has had a lot of praise for the work he has done in reviving the team's fortunes – but I honestly thought we had the wherewithal to beat them.
"I wouldn't have wanted to swap out my team for their team, and I'm not surprised at all that we won it."
Watch Roy's full review of 2014 with FATV in the media player below.
Watch the full interview with England manager Roy Hodgson as he looks back at the last year
