But with all the games being played at Twickenham, Hodge insists the team must prove themselves away from home to earn the right to be number one.
He said: "It is difficult to gauge whether England deserve to be number one in the world.
"They are an excellent team and are right at the top of their game. You only have to look at their results to see how good they are.
"But a lot of those wins have come at Twickenham and the real test will be doing it away from home too."
However, stand-off Hodge recognises Scotland will require an extra-special performance to defeat England at Twickenham in the penultimate RBS 6 Nations game.
Victory would set Woodward's men on course for a colossal game with Ireland, who also have the Grand Slam in their sights, in the final match of the series.
However, Hodge - who scored all the points in the 19-13 win over the English in April 2000 - knows what it means to a Scottish team to beat the Auld Enemy.
"We have only beaten England twice in about 15 years and it really is special," he said.
"It was a terrible day for weather three years ago, but we deserved the win.
"Chris Paterson kicked well against Wales the other week and he has to keep that form consistently for us at Twickenham."