Derrick Henry‘s debut season with the Ravens exceeded expectations and demonstrated his decorated career is likely to continue for many years. Whenever the All-Pro running back hangs up his cleats, though, he hopes to do so in Baltimore. 
When speaking with The Athletic’s Dianna Russini at last night’s NFL Honors ceremony, Henry stated he hopes to retire as a Raven. That comes as little surprise, considering the 31-year-old had one of his best seasons in 2024. Henry’s rushing (1,921) and scrimmage yards (2,114) from the 2025 campaign were the second-highest of his career, and his 18 total touchdowns matched a personal best.
Duplicating that production in 2025 and beyond will be challenging for the longtime Titans star, but he should be able to land a new commitment from the Ravens as early as this offseason. Henry is on the books for next year, but none of his scheduled $6MM base salary is guaranteed (although he does have $1MM in locked in compensation coming in the form of a March roster bonus). The five-time Pro Bowler is currently set to carry a cap hit of $12.9MM in 2025, so an extension could lower that figure while ensuring his Baltimore tenure continues for the foreseeable future.
Ravens general manager Eric DeCosta said after the team’s season came to an end a Henry extension will receive consideration. The team has other offseason priorities on offense – including, most notably, the decision to re-sign or replace left tackle Ronnie Stanley – but making a new commitment in Henry would be feasible from a roster-building and financial perspective. The top of the running back market includes five players averaging at least $12MM per year on their current deals, but a modest raise from the Alabama product’s $8MM AAV could be enough to work out a multi-year accord.
Baltimore’s running back depth chart includes pass-catching specialist Justice Hill (who signed an extension through 2026 in September and totaled a career-high 611 scrimmage yards this season), former UDFA Keaton Mitchell and 2024 fifth-rounder Rasheen Ali. Without a clear-cut RB1 successor in place, Henry should be expected to remain a workhorse back for his new team in 2025 and beyond. His chances of finishing his career with the Ravens – and thus avoiding a second trip to free agency – will of course increase if a new deal can be worked out over the coming months.