New Zealand have won 42 out of 48 matches under Henry

The decision was taken after the team was beaten in the quarter-finals but Henry is convinced they can learn from the experience and improve.

"I believe I can add further value," said Henry. "I'm passionate about coaching and this team."

"I believe we can develop into an even stronger team in the future."

Henry, 61, had to re-apply for the job after the NZRU rejected a proposal to reappoint his coaching team, which included Steve Hansen and Wayne Smith.

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"We're all gutted by the World Cup result especially after the success the team had in the four years before that," said Smith.

"Personally, it's made me more determined to look for improvements and to find a new level of success if given the chance."

New Zealand have won 42 of 48 matches under Henry.

During that time they have taken the Tri-Nations title in 2005, 2006 and 2007, completed a series whitewash against the British and Irish Lions and a grand slam over England, Scotland, Wales and Ireland.

They went into this year's World Cup as overwhelming favourites but were controversially beaten by France in a match marred by refereeing errors.

Canterbury Crusaders coach Robbie Deans, Waikato Chiefs coach Ian Foster, and Wellington Hurricanes coach Colin Cooper are also reported to have applied for the position.