Arsenal remain just three points adrift of the leaders Manchester United and Chelsea.
“I know it’s coming up to five years since we won a trophy,” Henry told The Times. “But don’t rule us out for the Premier League title this year.
“You can’t – when a team have proved they can get up off the floor after not one heavy blow to the chin but two, you have to take their chances seriously.
“Arsene Wenger’s players took two beatings in big matches – from Manchester United and then Chelsea – and still kept pace with those clubs at the top of the league.
“Now you look at our remaining programme, starting with Burnley at the Emirates, and you can see that the other members of the so-called big four are safely out of the way.
“With no disrespect to the rest, that has to be an advantage. So we’re very much in there fighting for the big prize. And there can be no doubt now that Arsene’s latest generation have the stomach for the fight.
“They have survived a lot this season, including injuries to Cesc Fabregas and, still, Robin van Persie. In fact, you could say that if Van Persie had stayed in the side, we might even be top now.”