While struggling in the Premier League, Howe has guided Newcastle to the round of 16 in the Champions League after last night's playoff win against Qarabag.
Hopkinson said: "Eddie Howe is so important to this club and what he’s done here, lifting the club’s first trophy in 70 years with the Carabao Cup last year, is remarkable.
"What he’s doing on the day-to-day, working incredibly hard, has the support of the club and the ownership."
On the January market, he also explained: “The rules are the rules, and they are changing from PSR to SER which we are very supportive of. What’s most important for us is to drive the revenue up here.
"This is a self-help operation because the way the rules work is that we can only spend on salaries what we make in revenue, so we need to raise what we make.”