Arsenal fans could be in for a real treat this Christmas.
The New York Red Bulls striker could secure a second loan spell in two years at his former club. Does the 35-year-old still have the ability to make a significant impression?
Of course he does.
Henry's quality hasn't diminished since he moved to the MLS. The forward's style of play has altered slightly, but this change is only natural.
Great players are able to adapt their game alongside the pitfalls of age. Much like Manchester United's Ryan Giggs, Henry has remained effective by placing less reliance on pace and directness.
The Frenchman's Arsenal career can be defined by his willingness to stroll towards the left wing. Here, he often cut inside, dribbled at defenders and unleashed a devastating strike towards goal.
Henry also provided plenty of assists with his intelligent use of space. He had an undoubted ability to remain selfless if his colleagues were in a better position to score.
This side of Henry's game has progressed since moving to the MLS. A combination of his spacial awareness and the frightening speed of Arsenal's youngsters could provide quite a show.
Arsene Wenger played a huge role in making Henry the icon he is today.
Upon arrival from Juventus in 1999, the Gunners' boss unearthed his investment's ability to score goals by pushing him away from a traditional wing position and towards a central role.
This decision—along with the player's insane natural ability—provided Henry with the platform to shine.
By bringing his former employee back, Wenger could provide his current squad with the boost needed to do exactly the same.
Henry's presence would make a massive difference to the squad's morale. Right now, Arsenal are always only one win away from jubilance and one loss away from crisis.
National newspapers heighten the sense of instability by exaggerating the state of play. Having someone of Henry's calibre around will only enforce the club's levelheadedness.
Arsenal are rapidly moving through a transitional stage.
Greater responsibility is falling on the shoulders of young players such as Jack Wilshere, Alex Oxlade-Chamberlain, Kieran Gibbs and Carl Jenkinson. New signings are being labelled "flops" without reason. Henry has experienced both of these situations throughout his career.
Last season, the Frenchman made seven substitute appearances during his loan spell at Arsenal. He came off the bench and provided two vital goals. The forward sank Leeds in the FA Cup and also scored in the 2-1 Premier League win against Sunderland.
Fast forward to May; Arsenal finished a single point above local rivals Tottenham Hotspur in the domestic division. Henry's contribution proved to be of great importantance.
Arsene Wenger understands this. He knows a large proportion of Arsenal fans would welcome Henry back in an instant. Speaking to BBC Sport, Wenger focused on playing down reports of the player's reemergence"
Will I sign him again in January? I don't rule it out. I don't know if he is interested. He is sharp.
We will lose Gervinho again as they are playing in the African Cup of Nations two years in a row, so we will be confronted with a shortage particularly if [striker] Marouane Chamakh should go. I cannot stand in his way; then we will be short.
You know what Thierry gives you; he gives you hope, especially when he comes on, that is the most important thing.
Thierry is a communicator, an extrovert, very intelligent. He can only give good advice to players because he was in their position when he arrived here.
January is a difficult time to secure high-profile players. Individual prices rocket towards insanity, leaving the market restricted for club's that don't possess ridiculous spending power.
Arsenal chairman Peter Hill-Wood has already confirmed that the club can't compete with the financial prowess of many top teams (via ESPN).
Surely, Thierry Henry's arrival makes perfect sense?
Do you think Thierry Henry should return to Arsenal? Let me know in the comments section below and be sure to follow me on Twitter: