Henderson is not expected to travel with the rest of his teammates to the King Power Stadium after sustaining a badly bruised foot in a training session at the weekend.
Jurgen Klopp had hoped to have his captain available to face the Foxes but the 26-year-old midfielder has been forced out of the game after failing to recover in time.
Henderson has only recently returned from a heel injury that kept him out of games over the festive period.
The Reds will be targeting a victory against a struggling Leicester side as they continue their push for a Champions League place.