Henry took a drop in basic salary from $5 million to $3.75 million according to figures released by the MLS players union.
The former Arsenal striker's total pay fell from $5.6 million to $4.35 million, still higher than the second best paid player in the league, Robbie Keane.
Ireland captain Keane had the highest base salary in the league, of $4 million, a whopping increase from last season's $2,917,241.
His total earnings rose to $4,333,333 from $3,417,243 after helping the Galaxy win their second straight MLS title.
Red Bulls midfielder Tim Cahill was third ($3.5 million base, $3,625,000 total), followed by Galaxy midfielder Landon Donovan ($2.5 million base, same total) and Montreal forward Marco Di Vaio ($1,000,008, total $1,937,508).