The midfielder has made 26 appearances in all competitions for the Reds, despite battling for a spot with club captain Steven Gerrard, Joe Allen, Jonjo Shelvey, Lucas Leiva and Nuri Sahin, who departed for Borussia Dortmund earlier this month.
And the 22-year-old, who arrived from Sunderland for £16 million in the summer of 2011, believes the stiff competition for places at Anfield has driven him on to improve as a player.
“I think we’ve got a lot of good players in the team so it’s a headache every week for him – and that’s a good thing!” he told the club's official website.
“It makes everyone push on in training and try to improve, so if we keep playing like that we’ll be alright.”
Henderson has been in good form recently, and admits that having attackers of the calibre of Luis Suarez, Raheem Sterling and new signing Daniel Sturridge makes life as a midfielder a lot easier.
“They’re world-class players and there’s a lot of movement in front of me,” he added. “They’re always available to give the ball to so it makes it easier for the midfielders.
“Daniel is a really talented player. He’s scored a few goals and played well too. He’s a big plus for us and he just needs to keep working hard and keep going forward."
Liverpool now find themselves level on points with Arsenal having played a game more, and Henderson is convinced they can still mount a late charge for the Champions League places.
“The top four is a realistic aim, but we just have to take each game as it comes, keep chipping away as we have been and hopefully get a good finish to the season,” he concluded.