Hodgson, who has twice managed Palace, his boyhood club, in the Premier League, adds the honour to his Freedom of the Borough of Croydon in 2018 and his CBE for services to football last year.
Presented to him at a short ceremony at Guildhall, Hodgson was nominated for the Freedom by elected Members of the City of London Corporation, Alderman Gregory Jones KC, and Alderman Sir David Wootton.
Croydon born-and-raised and a Crystal Palace fan since childhood, Hodgson began his playing career with the club, before embarking on a global odyssey which led into his transition to management.
His achievements around the globe are well-documented, leading clubs including Sweden’s Malmö FF and Italy’s Inter Milan to success, while he has also managed the national side of Switzerland, Finland and – at three major tournaments – England.
Five decades after first leaving Palace, Hodgson was appointed manager in September 2017 and went on to secure an eleventh-place finish, before equalling Palace’s best-ever points total in a Premier League campaign (49) the following year.
Having become the only Palace manager ever to secure safety in four consecutive top-flight seasons, and handing debuts to the likes of Aaron Wan-Bissaka, Tyrick Mitchell and Ebere Eze, Hodgson departed the club at the end of the 2020/21 season.
But it was not to prove Hodgson’s final glory with the club as, following a brief stint at Watford, the manager returned for the final 10 games of Palace’s 2022/23 campaign, charged with keeping the club in the top-flight once more.
He did so in some style, winning five and drawing three matches to claim another eleventh-place finish, above the likes of Chelsea and West Ham United.
Speaking after his Freedom ceremony, Roy Hodgson said: “It is wonderful to be awarded the Freedom of the City of London.
“I am very proud of the city in which I was born and, although I am lucky enough for my career to have taken me to many corners of the world, London will always be my home.
“It is a proud honour for myself and my family, and one for which I am very grateful.”
Alderman Gregory Jones KC said: “Few people associated with the beautiful game have done so much, and with as much success as Roy Hodgson, so it was a pleasure to welcome him and his guests to Guildhall to watch him being admitted to the Freedom of the City of London.
“Drawing on so much experience, not just as a former player, but also a hugely respected manager, it is not surprising that this multi-lingual legend of football is often called upon to offer his views on the game, emerging talent, and established players.”
One of the City of London’s ancient traditions, the Freedom is believed to have begun in 1237 and enabled recipients to carry out their trade.
As well as being nominated for, or applying for, the Freedom, it is also offered by the City of London Corporation to individuals as a way of paying tribute to their outstanding contribution to London or public life, or to celebrate a very significant achievement.