Hodgson has missed five games since injuring his left wrist and thumb after blocking a shot against the Boston Bruins on Dec. 19. He has eight goals and 11 assists in 33 games.
Larsson returns to the team after being assigned to Rochester for the Spengler Cup tournament in Switzerland. He has an assist in 18 games for the Sabres this season.
McNabb is back in Buffalo after being sent to Rochester on Dec. 17. He has not recorded a point in five NHL games this season.
The team announced the moves Wednesday.