He passed his studentexamen in 1967 and attended Statens scenskola in Malmö from 1968 to 1971.
He is perhaps best known for playing Kurt Wallander in the television films based on the novels by Henning Mankell. Henriksson worked at the Norrköping City Theatre in 1971, Stockholm City Theatre from 1972 and television-teatern from 1980 to 1983. He made his breakthrough in 1973 at Stockholm City Theatre with the lead role in Peer Gynt.
In 1993 he joined the cast of the Royal Dramatic Theatre in Stockholm.
Both films were directed by Lisa Ohlin. He also received the Swedish Theatre Award Guldmasken for the one-man play Doktor Glass of Hjalmar Söderberg in 2007.
Henriksson branched into business as co-owner of the now defunct Vasateatern (The Vasa Theatre) a private theatre focussing on classic farce and comedy in Stockholm, and taught Scenic Design at the Stockholm School of Theater. Henriksson lives with the Swedish actress Cecilia Nilsson in Stockholm.