Henshaw ruled out for Irish
Bundee Aki and Chris Farrell, boasting just two caps between them, will line-up as the Irish seek to make it three wins from three November Tests after Henshaw suffered a suspected hamstring injury this week.
Schmidt gives Leinster wing Adam Byrne his Test debut, after a breakthrough season last year ending a nightmare run of injuries which had seen him break a leg twice, against a Pumas side that destroyed Irish World Cup hopes in the 2015 quarterfinals.
Schmidt told Thursday's press conference: "Robbie Henshaw has a slight hamstring injury and potentially could have been involved, but has a busy period coming up so we decided to not risk him.
"Chris [Farrell] acquitted himself pretty well last weekend against Fiji and we will see how he measures up against Pumas."
Turning to Byrne he commented: "Byrne gave us confidence with his work in training camp to include him.
"He has worked really hard picking things up all the time and with a bit of experience around him in the backs really hoping he gets a good work out for him in his first time in Irish jersey."
As expected Schmidt – who gave 23-year-old Byrne his debut when he was head coach at Leinster – has reverted to largely the starting XV that romped to a record 38-3 victory over South Africa a fortnight ago – having fielded an inexperienced side in the 23-20 win over Fiji last Saturday.
Wing Andrew Conway and lock Devin Toner who are the only two to have started the two previous Tests are on the replacements bench allowing Byrne to get his blooding and 21-year-old Leinster teammate James Ryan to get a first Test start.
Five of the starting XV who were beaten 20-43 by the Argentinians in 2015 remain including fullback Rob Kearney, who wins his 78th cap.
Ireland's British and Irish Lions halfback partnership of scrumhalf Conor Murray and Johnny Sexton – the latter was injured and missed the quarterfinal defeat – are also reunited after being rested for the Fiji game.
The Irish will start as warm favourites with the Pumas having tasted victory just twice this year, their win over Six Nations whipping boys Italy last Saturday ending a seven-match losing run.
Ireland: 15 Rob Kearney, 14 Adam Byrne, 13 Chris Farrell, 12 Bundee Aki, 11 Jacob Stockdale, 10 Johnny Sexton, 9 Conor Murray, 8 Christiaan Stander, 7 Sean O'Brien, 6 Peter O'Mahony, 5 Iain Henderson, 4 James Ryan, 3 Tadhg Furlong, 2 Rory Best (captain), 1 Cian Healy.
Replacements: 16 James Tracy, 17 Dave Kilcoyne, 18 John Ryan, 19 Devin Toner, 20 Rhys Ruddock, 21 Luke McGrath, 22 Ian Keatley, 23 Andrew Conway.
Date: Saturday, November 25
Venue: Aviva Stadium, Dublin
Kick-off: 17.30 (17.30 GMT; 14.30 Argentina Time)
Referee: Mathieu Raynal (France)
Assistant referees: Marius Mitrea (Italy), Mike Adamson (Scotland)
TMO: David Grashoff (England)