The new Reds boss is hoping Torres will follow captain Steven Gerrard's example and publicly commit himself to the club but he concedes the player has misgivings.
Hodgson, who briefly met with the Spain international for the first time last week, insists Torres' apparent reluctance to commit himself to another season with Liverpool pre-dates his time at the club.
"Unfortunately, I cannot do much more," Hodgson admitted in quotes reported by the News of the World.
"His beef is with the club and not me.
"Fernando's situation has nothing to do with me, he made that perfectly clear over the phone during the World Cup and when I met him face-to-face.
"He knows what I would like to do with the club. He knows how much I value him.
"But his issues are with what has gone on in the past rather than the future.
"If he has problems with the club for things in the past, it is difficult for me to dismiss that."