Henry suffered a hamstring injury during the first half of Wolves’ 5-0 defeat by Fulham on Sunday.
A scan on Monday has confirmed the extent of the injury the former Wolves skipper suffered.
Wolves caretaker boss Terry Connor said: “Karl has had the scan which has shown up a hamstring strain, and he is expected to be out for three to four weeks.
“As a result of his injury, and also with Dave Edwards being unavailable at Fulham, we have decided to recall David Davis from his loan spell at Chesterfield.
“It gives us another option given the injuries and we’ve had David watched closely on loan at both Inverness and Chesterfield this season where he has done very well.”