The 63-year-old, whose time at the university includes the past 19 years as dean of the faculty of law, yesterday confirmed he had accepted a new role in Auckland.
He said he was moving there to be closer to family, including a much-loved grandchild, but had no plans to retire.
Instead, he told the Otago Daily Times he would take up a new professorship at the University of Auckland Law School next year.
It will be a long goodbye for Prof Henaghan, whose last day at the University of Otago will be December 18 - allowing him to congratulate the last in a long line of graduating law students tutored under his watch.
He had already told university vice-chancellor Prof Harlene Hayne and other senior figures of his decision, although a formal notice of resignation was not required until six months before his departure.
He planned to savour his final year at the university, and would always call Otago home.
''I've been at the university for 47 years if I count my student years, and 41 years in the faculty - and I've loved every minute of it.
''I definitely want to be here this year and I'm relishing every minute of this year, because Otago's been my heart and soul and still will be, wherever I am.''