Henson officially left the Swansea-based side last year after a prolonged self-imposed exile from the game, initially joining Premiership club Saracens before going on to play in France's Top 14 with Toulon.
The 29-year-old, who does not have a club at present, is currently occupied with trying to claim a place in Wales' 30-man World Cup squad, but he said: "I have always said I hope the Ospreys would have me back.
"I haven't spoken to them yet, but they will be the first people I will speak to.
"I just want to concentrate on Wales at the moment and try to get in that World Cup squad."
The race for World Cup places gathers pace this weekend when England arrive in Cardiff for Wales' penultimate Test match ahead of their departure to New Zealand.
Jamie Roberts and Jonathan Davies appear to be installed as Wales coach Warren Gatland's premier midfield pairing, while Scarlets youngster Scott Williams has impressed greatly in training and when he featured as a replacement at Twickenham on Saturday when England won 23-19.
Henson is expected to be handed a chance at the Millennium Stadium on Saturday in what would be only his second Wales appearance since March 2009.
"There is huge competition for places, and I just hope I get a chance in one of these games," he added.
"There are definitely three centres there at the moment, so I need to do something pretty special if I get the chance.
"It is about taking your chance and trying to get involved in this World Cup. I've never been to one, so it's huge for me.
"It would probably be one of the biggest achievements of my rugby career if I manage to do it. I missed out on the last two, and that still hurts.
"I've had quite a bit of time out - I haven't managed to have too many games under my belt - but the body is feeling good.
"I really have missed it, being involved with Wales. It has been awesome, the fitness training has been tough but we have all got through it and I hope it pays dividends. I am raring to go.
"At the moment, I think the other three centres are probably ahead of me, which is fair enough. I will have to try to turn the tables and try to show something a bit different from what those three can offer."
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