The 24-year-old centre's season was ended by an innocuous training incident as the Wallabies step up their preparation to take on New Zealand in Yokohama next weekend.
Hodge's injury is a major blow for Australia coach Michael Cheika.
Cheika will bolster his squad for the tour of Europe, but may call on Samu Kerevi, who missed the Rugby Championship after surgery on a ruptured biceps, to play some part against the All Blacks after he.
"I think he had three games scheduled and one [he] had to forfeit so he got two games under his belt," Cheika said of Kerevi, who featured in the Byron Bay Sevens this weekend.
"He's got a good block of training under his belt and he is probably a bit underdone but he has a lot of experience as well.
"We will decide once he arrives and we get him on the training paddock whether we think he is in the sort of condition he needs to be to play at least some part this weekend."
Cheika is in no rush to decide who to add to the tour squad for the Tests against Wales, Italy and England next month.
"I was thinking about bringing a couple of development players for the European section [of the tour] and we will just have to see," he added.
"We are looking at bringing in someone who hasn't been in the squad up until now."