Hurst, who scored a hat-trick when England beat West Germany in the showpiece final 48 years ago, is convinced that the West Ham striker can provide Hodgson with a different attacking option, providing he can stay injury free.
Carroll has struggled since making his loan move to Upton Park from Liverpool permanent as a foot problem saw him miss the first five months of the campaign.
The 25-year-old's rehabilitation took longer than manager Sam Allardyce expected and Carroll has only made seven appearances in all competitions as a result.
After netting his first goal of the season against Stoke City last weekend, Hurst believes Carroll is ready to answer his country's call.
"There is every chance for Andy," Hurst told West Ham's official website.
"There are 10 Premier League games to go and if he scores in every game and West Ham continue to rise up the table and he keeps himself fit, he has the chance.
"(Southampton forward) Rickie Lambert is a good player and is playing well but if he gets injured, we may be looking for another front player who gives us the option of the high ball and Andy is a difficult player to mark.
"If Andy keeps plugging away, keeps himself fit and he keeps scoring goals then, no question, he has a real chance of being there."
Carroll has nine caps for England and was selected by Hodgson for the 2012 European Championships, where he scored one of his two international goals.
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