O'Driscoll, the most capped player ever to grace the game, hung up his boots earlier this year having skippered Ireland on 83 occasions and also won four GUINNESS PRO12 titles with Leinster.
But Henshaw, alongside Gordon D'Arcy, has shone in the autumn internationals, most recently helping Ireland to a thrilling 26-23 win over Australia on Saturday.
And Munster lock O'Connell believes his 21-year-old GUINNESS PRO12 rival is beginning to plug the gap felt at outside centre since O'Driscoll's retirement.
"There was maybe too much talk in the lead-up to the South Africa game [a 29-15 win] about the injured players and the succession to Brian," said O'Connell.
"It's great for the centres that there has been no talk this week about Brian O'Driscoll, which says a lot about how they [Henshaw and D'Arcy] have performed.
"We have moved on and it has allowed us to focus on the game."
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