After Henry jogged on the grass in cleats last week and went through an additional workout Monday, the Titans feel he is ready to return to practice, sources said. The designation opens a 21-day window for Henry to be added to the 53-man active roster.
Tennessee coach Mike Vrabel said Monday that the Titans were discussing Henry's possible return and would "probably make a decision midweek."
Henry was placed on injured reserve on Nov. 1 due to a fractured foot that he suffered in the team's 34-31 win over the Indianapolis Colts in Week 8.
Henry's 937 rushing yards led the NFL at the time of his injury. Despite missing eight games, he ranks sixth among all running backs this season.
D'Onta Foreman's 497 rushing yards has led the way for Tennessee since Henry went down. The Titans have a 5-3 record in the eight games Henry has been out.
Tennessee doesn't have any definitive plans regarding Henry playing in the season finale against the Houston Texans, but the team expects to get him back just in time for the playoffs.
The AFC South-champion Titans can clinch the No. 1 seed in the conference with a victory at Houston.