Left-back Shaw is expected to join Manchester United, while Southampton captain Lallana appears set for a move to Liverpool with other clubs interested in both players.
Both were named in England's 23-man squad for Brazil 2014 on Monday, but Hodgson desperately wants to avoid unneeded distractions at the tournament.
"I have made it clear to them already and I think they are perfectly happy with it. England is England and your club is your club. The two are not married together," Hodgson said.
"As far as I am concerned you sign up for this World Cup and you sign up to do a good job for England.
"Your club future is what it is and it will be taken care of outside of England time. That is basically all I can do.
"I was asked would you like all of this to be sorted before you go to Miami. Of course I would. It is not an ideal world and that might not happen but the one thing I am going to be very firm on.
"When we are together with England that is what matters and if you have anything to resolve you do it outside that time. I am thinking about medicals in particular. I can't stop phone calls.
"I am definitely not going to have agents swirling around or this player has got to leave the camp. I would expect the players to understand that."
