Hodgson revealed ealier week that he had identified two "major" players that he wanted to chairman Jeremy Peace, with a new goalkeeper and a new striker top of his shopping list.
The Baggies had been keeping tabs on West Ham stopper Robert Green and are believed to be preparing a bid for Reading hitman Shane Long.
But a development at St Andrew's has bumped Foster to the top of the list, with cash-strapped Blues revealing they would be happy to loan Foster out for the season ahead of a possible £4million permanent deal.
The Carling Cup winners are counting the cost of relegation from the Premier League and are looking to get the 28-year-old off their wage bill.
That has made Foster Hodgson's top goalkeeping target, with the Baggies boss telling the Express & Star: "I am aware of our interest in Ben Foster but I am not aware of how far down the line we are with our negotiations with Birmingham, so I can't make any comments on that.
"But Ben Foster is a goalkeeper who interests us and, if we can get him to West Bromwich Albion on loan or on a permanent deal, that would be something we would be very happy about."
The Baggies are also believed to have held talks with former England midfielder Owen Hargreaves over a possible pay-as-you-play deal in the US, with further talks pencilled in for next week.
Borussia Dortmund hears Wembley Calling and are headed to London for the Champions League final.
The Juventus jersey for the 2013/14 was released earlier this week. Be the first to wear the colors of the Old Lady.
adidas has added some color to the Predator line with this new colorway. Released on May 17. Be the first to own a pair.
One of the top soccer cleats for control the Nike CTR360 will not let you down on the field in tight spaces.
Bayern Munich are kings of Germany and hope to be crowned kings of Europe at Wembley later this month!
The adidas Nitrocharge is the most talked about new cleat in years. It was released on May 15 and will take your pitch by storm.
Ajax has released their away soccer jersey for the 2013/14 season. Get in the Gear.
The Liverpool 2013/14 soccer jersey is available for pre-order. The Reds are eager to compete for silver next season.
The push for more color on their cleats, adidas has added the infrared colorway to the adiZero f50 Line.
The new PUMA evoSPEED 1.2 FG. A great new soccer cleat with classic look and first time for PUMA to be on the cleat.