"Steven Gerrard is extremely unlucky to be sent off," Hodgson said. "The two fouls he was adjudged to have committed weren't worthy of cards. I thought all the yellow cards were very harsh. I don't think there were a lot of bad fouls, or fouls full stop. So I'm going to say there were far too many cards for the fouls committed."
Despite the red card, England avoided a first defeat under coach Hodgson thanks to Lampard's 87th-minute penalty, which rescued a Group H point.
Ukraine had taken the lead with a brilliantly executed goal by Evhen Konoplianka after 39 minutes, and the visitors pressed England back for long periods.
Oleg Blokhin's side were arguably the better team for the first hour of the game, but Hodgson saw it differently.
"We started poorly in the first 10 minutes but once we got into our stride I thought we had quite good control over the game," Hodgson said.
"We went 1-0 down to a wonder-strike but against a good Ukraine team, I was very pleased with the way we kept probing and playing our football and kept taking the game to them and kept creating chances.
"So in the end we fully deserved our equaliser and I am pleased with the way the players went about their task."
Ukraine manager Blokhin said he was disappointed not to win.
"We made a great start and deserved to be leading at halftime because we caused them problems they could not solve," he said.
"I think some of the young players were a bit intimidated by playing England at Wembley, but they did very well. England did play better in the second half and we got tired, but this is still a very good point for us.
"Of course if we don't get points against Poland and Montenegro and San Marino it will all be in vain but a draw was good in the end."
The result left England on four points along with Montenegro and Poland who beat San Marino and Moldova respectively. Ukraine have one point but have only played one match.