Beckham is expected to leave LA Galaxy on loan again in January following the completion of the Major League Soccer season, in order to give himself the best possible chance of being picked for the South Africa showpiece.
And former Blues' boss Hoddle, who handed Beckham his first cap for the Three Lions against Moldova 13 years ago, believes the former England skipper could head to Stamford Bridge, now coached by Carlo Ancelotti.
Beckham, England's most-capped outfield player and the only English player to score in three World Cups, is already familiar with the new Chelsea boss after the pair worked together at AC Milan last season when the 34-year-old joined the San Siro side on loan spell.
And while a second spell in Milan is the expected outcome for the midfielder, Hoddle believes Beckham could be tempted by the chance to work with Ancelotti again.
"I think Capello is right to say he has to come back to Europe. I think he has work to do to make his place secure and I think David Beckham knows that," he said in the Telegraph.
"Whether LA Galaxy are happy about it is another matter. But if he gets the loan situation sorted in Europe there's no reason why he can't be a massive influence for England.
"Milan is the obvious destination, but they've just changed the manager and the new manager, Leonardo, might not have the same ideas.
"Ancelotti used him well at Milan, so who knows? He could end up at Chelsea. I think he'd be under the nose of Capello, and at Chelsea with Ancelotti there...he's worked with him before.
"He's obviously got to look at whether David can add something to his squad. But it's not beyond the realms of possibility."
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