Henderson started for Liverpool at the weekend in their 1-1 draw at Manchester City, though he was replaced by Naby Keita on the 78th minute mark.
The midfielder is due to turn 32 years old in the summer and has been a key part of Liverpool’s success in recent years, lifting both the Premier League and the Champions League at the Anfield club.
While Henderson has been a superb servant for Liverpool, former top flight defender Cunningham feels that the last six months have seen a marked decline in his performances.
Cunningham would not sanction Henderson’s exit from Liverpool, but is clear in his view that the midfielder is no longer able to influence games as he previously could.
“Now over the past year I’m just looking at Jordan Henderson and just feeling as if there is a drop off now of his performance levels”, Cunningham said on Off The Ball.
“Now what does that mean for the team?
“He certainly stays at the football club, such is his importance in the dressing room in terms of his influence around the team, you don’t get rid of that too easy.
“I just get that feeling, over the last six months, that he may not be able to influence games as he has done previously, just due to the deterioration in his physical condition.
“It happens to us all at some point.”
Henderson regularly covers vast distances for Liverpool to help implement Jurgen Klopp’s high energy style of play.