International road veteran Dean was an integral member of his Garmin-Cervelo team at this year's Tour de France, helping them to win the team time trial and the overall team classification.
Henderson had a string of podium places this season, including a stage win in both prestigious Paris-Nice and the Tour of Luxembourg.
In the women's field, Alison Shanks will be favourite for track rider of the year. She topped off a fantastic season with a silver medal in the individual pursuit at the UCI Track World Championships and was a vital member of the women's team pursuit team that won world championship bronze.
Other finalists for the title are fellow team pursuit member Jaime Nielsen and omnium rider Joanne Kiesanowski.
Three-time world time trial medallist Linda Villumsen is the headline name for the road rider of the year, after winning silver in the time trial at the UCI road world championships in Denmark.
Villumsen will be up against national women's road race champion Catherine Cheatley and Rushlee Buchanan for the award.
Triple junior world medallist Stephanie McKenzie is favourite for the best emerging talent award. She won two silvers and a bronze in sprint events at the 2011 UCI junior track world championships. The other finalists are junior worlds silver medallists James Oram and Georgia Williams.
The people's choice award will be determined by public vote, with Gordon McCauley, Eddie Dawkins George Bennett, Dean and Archbold the finalists.
The awards will be held in Christchurch on January 6, in conjunction with the 2012 elite road national championships.
Finalists for BikeNZ rider of the year awards:
Male Track Rider of the Year: Jesse Sergent, Shane Archbold, Simon van Velthooven
Female Track Rider of the Year: Ali Shanks, Jo Kiesanowski, Jaime Nielsen
Male Road Rider of the Year: Jesse Sergent, Greg Henderson, Julian Dean
Female Road Rider of the Year: Catherine Cheatley, Linda Villumsen, Rushlee Buchanan
Best Emerging Talent: Stephanie McKenzie, James Oram, Georgia Williams
People's Choice Award: Eddie Dawkins, Shane Archbold, George Bennett, Gordon McCauley, Julian Dean