The Reds missed out on a place in either the UEFA Champions League or the Europa League after finishing seventh last term, and are mounting a stronger challenge for honours this time around.
They are currently six points off the pace in the title race, having been top of the table at Christmas, but Henderson feels that not having to play as many games as their rivals could give them an edge for the remainder of the campaign.
"That may have helped in terms of the extra rest it's given us," said the midfielder.
"It may be one of the factors in our improved form. When you've got a game on a Thursday and another one at the weekend, mentally it can be tough and physically it's demanding, especially when you've got to travel abroad.
"All our efforts can go into the Premier League and FA Cup now."
Liverpool booked their place in the fourth round of the FA Cup at the weekend with a 2-0 win over Oldham, and Henderson has set his sights on a long run in the competition.
He admits the pain of losing to Chelsea in the 2012 final will act as a spur for Brendan Rodgers' men.
"Losing that final against Chelsea does make you want to go back and put things right," he said.
"It was frustrating. We'd love to go back to Wembley and win. It's a big competition and we want to do well in it."