Last week, Iheanacho completed a 25 million move and has already featured for the Foxes, in their 2-1 win over Borussia Mochengladbach.
Henry described the move as “an amazing opportunity” for the Super Eagles forward.
Henry told Sky Sports: “It’s an amazing opportunity for him. I think back to Manuel Pellegrini’s last season at Manchester City. He wasn’t the only one but he was the spark in the team, fighting everywhere, scoring goals, trying his hardest. So I think it’s a good buy for Leicester.
“It will be interesting to see how he interacts with Jamie Vardy. Is he going to do the job of Shinji Okazaki? Is Okazaki going to keep his place? Are they going to be more adventurous? I don’t know whether Craig Shakespeare will play a 4-4-1-1 or a proper 4-4-2, but it’s a good signing.
“Whenever he had to do something at Manchester City, even when things were not great for the team, he delivered. People might say he had better players around him but let’s not forget that Leicester won the league two years ago. They have some good players too.”