Henry, who averaged 10 points in 43 games last season, recently agreed to re-sign for a second year with the team.
"Xavier earned a spot on our team last season after being a training camp invitee, and we hope he continues the dedication to improving he has displayed for us thus far,” General Manager Mitch Kupchak said in a statement. "When healthy, Xavier provided our team with an offensive punch, and we expect he’ll strive to add to his skill set and become a well-rounded player."
Henry's deal is believed to be a one-year contract at the league minimum of $981,084. The team did not reveal terms.
By a quirk in the NBA's complex collective bargaining agreement, Henry can block a trade should the team try to move him. He doesn't possess a true no-trade clause, but re-signing on a one-year deal creates a similar situation.
Henry, 23, was one of the bright spots during the Lakers' dismal 27-55 campaign before knee and wrist injuries that required surgery ended his season.
The 6-foot-6 guard/forward can be found regularly at the Lakers' practice facility in El Segundo, working his way back to full health.
Wesley Johnson has also agreed to re-sign, on a similar deal as Henry, but has yet to make it official.
The Lakers also expect to sign rookie Jordan Clarkson (46th overall pick) to bring the roster 13. The team may bring as many as 20 to training camp but can carry no more than 15 into the regular season.