The manager has overseen some outstanding results since returning to the club at the start of the month, beginning with a 2-1 win over Leicester City in which Palace registered the joint-highest shots total of any team in an individual Premier League game this season.
That was followed by the club’s joint-highest Premier League away win – 5-1 at Leeds United – as well as impressive displays in a 2-0 victory over Southampton and a 4-3 thriller against West Ham United.
During the month, Palace not only scored 13 goals and won an impressive 13 points to secure their top-flight status, but also moved ahead of Chelsea into 11th in the table.
Hodgson's nomination comes alongside that of Eberechi Eze for Player of the Month.
Supporters can help him claim the fifth Manager of the Month award of his career – aiming to see off Unai Emery, Pep Guardiola, Eddie Howe and Gary O’Neil – by voting here.
The winner will be announced at 12:00 BST on Friday, 12th May.