The Frenchman previously trained with the Gunners in the winter of 2011, before joining the club on loan in the January of 2012, as reported by the Independent's James Orr.
Yorke reports of Henry's latest return:
Arsenal legend Thierry Henry has been training with his old club as they prepare for their Premier League clash against Southampton.
The striker is currently on an MLS winter break and his club New York Red Bulls have several weeks off.
Henry played for eight years at Arsenal, scoring a 226 goals in all competitions. He also came back on loan during the 2011/12 season where he netted once.
There will doubtless once more be calls for Henry to join up with the Gunners officially in January, given the club's lack of reliable backup options for striker Olivier Giroud.
However, with Arsenal building momentum at present and finally showing signs of escaping the cycle of disappointment of recent seasons, Wenger's next move must be forward thinking.
Bringing in Mesut Ozil this summer brought a notable lift to a club that had begun the season in indifferent fashion with opening day defeat to Aston Villa. Another major addition to the forward line in January would send a clear message that Arsene Wenger's side are serious about their title ambitions.
Last time around, Henry's return brought a positive atmosphere to the club, but did little to suggest that the experiment was worth repeating two years down the line.
Arsenal are not short of money and such a loan move would be the type of deal that would suggest they are once more unwilling to gamble.
Having rebuilt their reputation in the initial months of this current campaign, the best thing the club could do is continue to press their claims for silverware with bold and decisive action in the transfer window.