Barcelona cleared the 30-year-old Henry to play after almost four weeks out with a lower back injury.
Henry joined Barca from Arsenal during the summer, has scored five goals in La Liga and two in the Champions League this season.
With Lionel Messi injured and Ronaldinho expected to start on the game on bench, Barca's main threat will be Samuel Eto'o, who has scored three goals in his last two games after missing more than three months with a serious thigh injury.
Real Madrid heads into the game with a four-point lead on second-place Barcelona.
"I find myself feeling more confident for this classic than for many others in the past," Barcelona president Joan Laporta said. "I'm convinced we are going to win."
Madrid president Ramon Calderon, for his part, said Real would win, 3-1.