Jay Bothroyd had earlier made the long wait for his first start of the season pay off as he gave Wolves the lead against his former club.
He struck just 25 seconds into the second half as Wolves earned a third successive home win to extend their unbeaten run to five games and continue their surge up the table.
But Charlton headed back to The Valley wondering just how their own eight-game unbeaten run had come to an end.
Alan Pardew's side created by far the greater number of chances but they lacked finishing power as they slipped to only their second Championship defeat of the season.
Their failings in front of goal cost them when well-travelled marksman Bothroyd struck with Wolves' first shot on target.
Good work on the right wing by Andy Keogh picked out Henry whose cross was deftly turned home at the near post by Bothroyd.
Even after that setback, Charlton had enough chances to have found a way back into the game but Luke Varney was twice denied by goalkeeper Wayne Hennessey while Danny Mills, who was barracked mercilessly all game by the Wolves fans, blazed over when well-placed.
Charlton's hopes of a comeback were then dashed by Henry five minutes from time when the former Stoke City midfielder capitalised on more good work by Bothroyd to beat Nicky Weaver from 14 yards.
Luckless Charlton should really have taken control of the game by half-time but were unable to make their domination pay.
As early as the fifth minute, Varney fluffed a gilt-edged chance from five yards when he failed to convert a nod down from Chris Iwelumo.
Iwelumo then met a right-wing cross from Andy Reid in the 22nd minute with a powerful header only to be denied by a spectacular one-handed save from Hennessey.
Wolves enjoyed their fair share of possession but, the lively Michael Kightly apart, carried no threat in the opening period.
Kightly's live-wire display was matched by Charlton's Darren Ambrose but he was unable to cap his impressive form with a goal.
He fired over the bar twice when well-placed and also saw his free-kick fly just too high as Charlton suffered a day to forget.