Hendrie, 32, played more than 250 games for Aston Villa earlier in his career and earned one England cap, but has not played for the Blades this season largely due to a four-match suspension.
He has had loan spells at Leicester and Blackpool since moving to Bramall Lane in July 2007.
Full-back Stewart, who joined Derby from Watford on a free transfer in May 2008, does not figure in manager Nigel Clough's plans.
The 27-year old has two years remaining on his contract at Pride Park but was told he could leave the club at the start of this season.
Source: Team_Talk