Hodge starred in his return - playing for Hawthorn affiliate Box Hill in the VFL - collecting 24 possessions and moving well.
Hawks coach Alastair Clarkson told his post-game press conference on Saturday afternoon Hodge's game data would determine whether the skipper plays lines up against the Bombers.
"There's a number of options available to us. Whether we choose to play him next week against Essendon, he could sub next week or he could play another game in the VFL," Clarkson said.
"We'll assess that on Monday or Tuesday, look at his recovery and his GPS and how much running he did."
After the game for Box Hill, Hodge told AFL.com.au he was just excited to be out on the field again, following a solid six-week stint of training in preparation for his return.
"It was good to get through. I played a bit over three quarters. I pulled up pretty well. Body feels fine and hopefully it feels the same tomorrow morning," Hodge said.
"I've been training for about six weeks now so I've been feeling good for a fair while and it was good to actually get out on the ground."
Wearing number 75, Hodge finished the game with 11 kicks, 13 handballs, a goal and a hand in two others.
Despite having his knee heavily taped - the one he injured against St Kilda in round six - Hodge attacked the ball with ferocity and weaved his way through traffic on a number of occasions.
Hodge said a return against arch-rival Essendon would depend on how his recovery was tracking during the week.
"I've got no idea. Clarko's the man you'll have to ask. I've just got to keep training. I guess it comes down to how I pull up tomorrow and how I train throughout the week," Hodge said.
Clarkson, for his part, agreed.
"We'll look at the opposition. If he's underdone match fitness wise, we may very well make the call to give him some more match conditioning at VFL level," Clarkson said.
Hodge played a little more than three quarters before spending the last term on the bench icing his knee as a precaution, which he said he does after every session.
Playing mainly on the wing and at half-forward, Hodge dictated terms from the outset using his football nous and expert decision-making to help engineer a flurry of forward movements.
In his second game back from injury, Max Bailey controlled proceedings in the ruck, as well as snaring a couple of athletic grabs above packs.
Chance Bateman and Bradley Hill were the other standouts, in particular Hill who created excellent link-up play through the middle and finished his work with two goals.
Martin Clarke and Alan Didak (in his first game back from injury) were both amongst the best for Collingwood in a team that was smashed by 116 points.
Ben Guthrie is a reporter for AFL.com.au. Follow him on Twitter: @AFL_BenGuthrie
