The 42-year-old has made his name in Victoria throughout a decorated career that is about to enter its 25th season.
He was a part of the Renegades inaugural season and returns alongside fellow recruits Jon Holland and Joe Mennie to round out the squad.
“I’m pretty happy coming home – I’ve got a wife and two kids who haven’t really seen the best of the Big Bash over the last three years,” Hodge said.
“I’ve loved Adelaide, I’ve loved playing there, it’s a really good venue to play cricket at ... but Etihad is pretty much up there as well.
“I can’t wait to play the derby games – I think that’s really special as a Melbourne person … we’ve seen it’s jammed packed full of spectators and I’m pretty excited.”
Hodge will strengthen a Renegades batting line-up that includes Aaron Finch, Cameron White, Tom Cooper, Marcus Harris and Dwayne Bravo – who returns to the side along with fellow West Indian Sunil Narine.
“We’ve got a really strong unit … a good mix of youth and older guys,” Hodge said.
“If you have a look at the recipe for success in T20 – it’s pretty much the older statesmen that get the job done.
“We just have a nice mix of youth, some really quality overseas players, some exciting batsmen and some good bowlers, so the squad looks great.”
In eight matches for the Adelaide Strikers last season, Hodge made 286 runs at an average of 41 with a strike rate of 131.
Only six batsmen scored more runs in the tournament and that output has provided Hodge with the confidence that he can still perform at the top level.
“It was a decision (to play on) that was made after last year where I had a pretty good impact for the Strikers and I thought if I can continue to have an impact then I’ll continue to play,” Hodge said.
“A spot has come up to fill a role for the Renegades which Andrew (McDonald – Renegades Coach) is keen for me to do.
“I’ve got a lot of experience in that role and I should be able to fill it hopefully pretty well.
“In T20 experience is important – strategically working with Andrew to try and get the best out of our squad is going to be really cool.”