The Gunners are 16 points behind leaders Manchester United with a draw and two defeats from their last three league games and, while the Frenchman refuses to concede defeat in the race for the title, he acknowledges it is improbable.
Henry said: "I will never give up on the championship as it is not in my mentality.
"If we were chasing one team, fine. But we need two teams (Manchester United and Chelsea) to slip up, so there is less probability.
"I'll admit it - we need a double miracle. We need an amazing run and for both teams to have very poor runs.
"At the moment, it looks as though it won't happen but we have to be there, just in case it does."
The 29-year-old also describes the young, inexperienced Arsenal squad as like "a lightweight going up against a heavyweight" and revealed he would be happy to see Wright-Phillips move to the Emirates Stadium in the January transfer window.
"You can rest assured (manager) Arsene Wenger will try and - once again - land a few bargains in January," the Gunners captain added.
"Even using the loan system, there are top-class players who would jump at the chance of first-team football.
"One player who springs to mind is Chelsea's Shaun Wright-Phillips.
"If he could be picked up on loan, I'm sure he could do a great job, given half a chance."
Henry did not look for excuses and accepted he had to do more to help lift the team.
"I'm not going to try and fool anyone. We're exactly where we deserve to be in the Premiership," he added in the Sun.
"There has also been criticism of my performances and I accept that. I've
scored seven goals, which is not too bad but I know I can play better.
"Sometimes I take things too personally. I am a perfectionist and I'm not top form.
"At the moment, I'm not helping my team as much as I want and that's when I become frustrated. I know it's not the end of the world but I want to do more."
Source: Fox News
Indeed, Arsenal are doing bad at the moment, I hope we sign Shaun, it will be a major boost foer the teams offence. thoughts...
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