Henderson announced the decision Friday in a statement issued by the school.
The Raleigh native played two seasons at West Virginia before transferring to N.C. State and redshirting in 2014-15.
He played for only 7 minutes of the following season before suffering a season-ending ankle injury.
As a redshirt senior in 2016-17, he was the team's second-leading scorer at 13.8 points per game and made a team-best 78 3-pointers.
Henderson called it "an honor and privilege" to play in his hometown.
The Associated Press contributed to this report.
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