The former Arsenal striker joined the club in October 2018 after the departure of his predecessor, Leonardo Jardim.
But we understand Monaco are now in talks with Jardim to replace Henry in a shock comeback for the Portuguese boss.
Leonardo Jardim looks set for a surprise comeback as Monaco head coach, having been replaced by Henry
Henry has managed just five wins in all competitions in his three months in charge of the Ligue 1 team, who are in the relegation zone, two points from safety.
Henry is yet to win a home league game, with their last match at the Stade Louis II ending in an embarrassing 3-1 French Cup defeat to Ligue 2 side Metz.
Henry – who has won just two of his 12 Ligue 1 matches – was forced to apologise for insulting Strasbourg defender Kenny Lala during their recent league defeat.
Henry’s last Monaco Ligue 1 victory came on December 4 at Amiens
Television cameras caught the Frenchman shouting abusive language at Lala as he delayed a throw-in with Strasbourg winning 2-1.
Henry’s assistant Franck Passi (right) will take temporary charge of first-team affairs
Credit; Sky Sports
Lanre Oloyede/TnTv Network