Bolton went into the clash of the Wanderers with heavily depleted attacking options, but were boosted by handing a league debut to loan signing Adam Le Fondre and the return to fitness of young starlet Zach Clough.
Bolton made a nightmare start for a second match in a row, as Wolves opened the scoring with just three minutes on the clock. Kevin McDonald's long boot forward found Nouha Dicko curiously able to run free on goal as Dorian Dervite was on his heels and Andy Lonergan inexplicably chose not to come off his line, allowing the forward raced through to slam the ball home from close range.
Bolton responded well and start gaining control of the game, with Clough linking up well the midfield as the hosts began to dominate possession. Le Fondre went close to a debut goal on 17 minutes as he fired narrowly over the bar.
But it was league debutant Clough who took control of the match six minutes later. Darren Pratley was fouled on the edge of the box and Clough confidently put himself forward as the taker. His curling shot bent around the wall and arrowed brilliantly into the far corner to level the scoreline.
Just two minutes later the brilliant Clough was at it again. Tim Ream stepped out of defence and crossed the ball in to Clough, who shimmied in the box and steered a right-footed shot into the far corner past the keeper for his third goal in two starts for Bolton.
Clough then came very close to a debut hat-trick but saw his powerful volley fly just over the bar, before Dicko was twice denied at the other end by David Wheater.
Bolton were dealt a huge blow after half-time as Pratley, who has been superb in recent weeks, pulled up with a hamstring injury that is likely to rule him out of Wednesday's FA Cup clash with Liverpool.
The game tailed off somewhat in the second half, with Bolton going close through Le Fondre again before the forward's cross nearly found Dean Moxey in the box.
Clough was replaced with 20 minutes remaining, with his recent injury and Wednesday night in mind. But the youngster's limelight was stolen by Henry's brilliant last gasp equaliser. Collecting the ball all of 30 yards from goal, the midfielder unleashed a wonderful dipping strike that arrowed into the far corner to deny the hosts all three points.
Wanderers will feel robbed, but the match has to be remembered for a magnificent league debut by Clough. After his match-winning full debut against Wigan in the FA Cup, the youngster went a step better with two superb goals and an all-round brilliant performance against Wolves. If his first two games are anything to go by then Clough is going to be an absolute star for Bolton.
Wanderers now head into Wednesday's clash with Liverpool having conceded six goals in two games since holding the Reds to a clean sheet at Anfield last weekend.