The pair missed England's 1-0 win over Norway on Saturday due to fitness concerns but have been passed fit. Although Hodgson has now named his squad officially, he can still make any injury-enforced changes before England's first game of the tournament on 11 June.
England will face Belgium in a final warm-up game at Wembley on Saturday 2nd June.
England Euro 2012 squad (with squad shirt numbers):Goalkeepers: 1. Joe Hart (Manchester City), 13. Robert Green (West Ham), 23. Jack Butland (Birmingham City).
Defenders: 12. Leighton Baines (Everton), 5. Gary Cahill (Chelsea), 3. Ashley Cole (Chelsea), 2. Glen Johnson (Liverpool), 14. Phil Jones (Manchester United), 15. Joleon Lescott (Manchester City), 6. John Terry (Chelsea), 18. Phil Jagielka (Everton).
Midfielders: 19. Stewart Downing (Liverpool), 4. Steven Gerrard (Liverpool), 8. Frank Lampard (Chelsea), 16. James Milner (Manchester City), 20. Alex Oxlade-Chamberlain (Arsenal), 17. Scott Parker (Tottenham), 7. Theo Walcott (Arsenal), 11. Ashley Young (Manchester United).
Forwards: 9. Andy Carroll (Liverpool), 21. Jermain Defoe (Tottenham), 10. Wayne Rooney (Manchester United), 22. Danny Welbeck (Manchester United).