"I'm pretty sure when a great player like Wayne Rooney is looking to leave his club, Manchester United will be in a position to target an awful lot of players around the world," added Hodgson.
"They will have the opportunity to replace him with many star strikers around the world."
Torres had a knee injury at the end of last season and came into the current campaign on the back of a groin problem he suffered after coming on as a substitute in Spain's win over the Netherlands in the World Cup final in July.
However, he has been a regular in the Liverpool side this term and played against Everton, having gone off with an adductor muscle injury in the previous outing against Blackpool.
Watch Merseyside derby highlights on MOTD2
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