Cole has missed the last three matches with a hamstring problem while Johnson has been sidelined for two games with a groin injury.
However, centre-back Sotirios Kyrgiakos is set to return after missing matches against Chelsea and Wigan with tonsilitis, while goalkeeper Brad Jones (shoulder) is fit to take his place on the bench.
Having named the same starting line-up for two successive games, Hodgson is likely to make changes, although he plans to keep them to a minimum.
"I'm rather hoping that the two and a half days we'll have had after Wigan will have given us time to recover," he said.
"I don't think we've got that many possibilities to make too many changes.
"We've got senior players like Johnson, Cole and Daniel Agger who are not fit to take part in the game, and then it's young players like Jonjo Shelvey, Jay Spearing and Danny Wilson.
"There isn't an enormous luxury to make wholesale changes.
"If we do make any at all it will be the odd one here and there because the team is functioning well.
"The guys who played against Wigan and Chelsea had a very light training session on Friday, mainly just recovery and prevention of injury. A little bit of movement, but nothing serious.
"We're very aware that it's three very important games in six days, so we don't want to leave anything on the training field.
"We want all our energy, vitality and intensity when we go into the match."