The 36-year-old Hendrickson went 1-6 with a 5.26 ERA in 52 games with Baltimore this year.
Hendrickson was called upon from the bullpen mostly to face left-handers, but he did start one game in 2010.
A former NBA player, Hendrickson broke into the majors in 2002 with Toronto. He also pitched for Tampa Bay, the Los Angeles Dodgers and Florida before signing with the Orioles before the 2008 season.
His career record is 57-74 over 320 games, including 166 starts.