Houllier can look back with satisfaction on his six years at Anfield and has "no regrets" after lifting the Reds out of the doldrums by winning half a dozen trophies.
Now he will meet long-time friend Hodgson in opposite dug-outs for the first time and is confident the former Fulham boss will bring the good times back to Liverpool.
He said: "Roy is a great pal of mine, he has been a good friend for a long time. We first met when he was coach at Malmo and I was at Paris St Germain and we had an indoor tournament.
"It has gone on from there. It was a League Managers' meeting where I saw him again - but we meet several times in a year.
"I don't think we have ever managed teams that have played against one another before. I am sure he will turn it around at Liverpool. He will do it. No problem. Give him a bit of time. He needs to change a few things. The problem is at Liverpool, when you lose, it's a crisis."
Source: PA
Source: PA