Murray, who recorded victory in the same tournament two years ago, has been seeded eighth due to his inconsistent form in 2014, but Henman believes that the Scot is still one of the favourites in the final major of the season.
"I think he's got a great chance even though he hasn't had the most straightforward of years," the 2004 US Open semi-finalist told Sky Sports News. "It's an important time now, hard court is a great surface for him.
"He won his first slam at the US Open, and is always be a tough match for anyone."
Murray, who is currently ninth in the world rankings, has not won a title yet this year.