Liverpool's captain suffered a grade two hamstring strain during the first leg of their last 16 tie in Spain on February 18.
The injury usually means four weeks out but Henderson's rehabilitation has been smooth. There were suggestions he could have trained at the end of last week but Liverpool's medical staff have been careful not to let him do too much, too soon.
However, he completed a session at Melwood on Sunday and followed that up on Monday. Should there be no complications in the next 24 hours, the England international will almost certainly be in the squad.