"I think that kid that fought last weekend, I have trouble with his name, Magomedov, the Russian kid, that's at 155 - I think he would definitely give Conor a huge problem," Henderson told The Adam Carolla Show.
"I think he definitely would take him down and beat the piss out of him."
Henderson said McGregor had become a more well-rounded fighter but remained limited. His last two wins, over ground masters Nate Diaz and Alvarez, were notable for McGregor totally avoiding any grappling exchanges.
"I don't dislike him," Henderson said of the Irish megastar. "I think it took me a while to kinda get on board with him, just to see a little bit more well-roundedness.
"He's always shown that he's got good hands, good kicks, but to see him against a couple different wrestlers that had good hands, it took me awhile to get onboard with him. I think Eddie Alvarez just did not fight a smart fight whatsoever. He didn't use his wrestling whatsoever."
Henderson also briefly weighed-in on the touted superfight between McGregor and Floyd Mayweather, predicting it wouldn't happen due to disagreements over the money split.
"I don't know if it will ever happen, just because both of them have got huge egos," Henderson said.