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Hodgson will remain in charge of West Bromwich Albion for the final two games of the Premier League season, although he will be released for England duties as required.
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"Hodgson, aged 64, who has won a total of eight league titles in a distinguished career, and coached the national teams of Switzerland, Finland and the United Arab Emirates, met with FA officials at Wembley on Monday.
"Having taken Switzerland to the FIFA World Cup in 1994 - their first finals competition for 28 years - Hodgson also achieved a FIFA ranking of third in the world as well as successfully qualifying the team for EURO 1996.
"His former clubs include Inter Milan, Blackburn Rovers, Grasshoppers, FC Copenhagen, Fulham and Liverpool. He has also managed in Norway and Sweden.
"In addition, he has been a regular member of FIFA and UEFA's technical study groups at tournaments.
"Along with his vast experience of international and European football, Hodgson is the only English manager currently working in the top flight to have won the League Managers' Association manager of the year award."

