The 30-year-old swapped Newcastle for the Emirates Stadium 18 months ago in a reported £12million deal, but has fallen down the pecking order following Hector Bellerin's emergence.
Debuchy has made just seven appearances for the Gunners this season and wants to leave in January, with struggling Aston Villa and Bayer Leverkusen amongst the interested parties.
Asked about the interest from Remi Garde's side, the France right-back told L'Equipe: "It's true, they are among the teams interested in me.
"I am currently studying everything but it's not a possibility I have excluded.
"Whatever happens, even if it is to return this summer and then start again, I have to go this winter
I cannot stay at Arsenal."
Asked if he regrets not leaving the Emirates in the summer, he replied: "Yes, I clearly lost six months.
"I would have preferred to leave last summer but the coach told me I would have my chance - it was not the case.
"I do not know who is responsible
Last year I got injured and I've been away a long time and Bellerin played some good matches.
"This summer, I had a good preparation and I was able to resume the season - but the coach decided otherwise
"It is very hard, I went through difficult times
This is the first time I find myself in this situation
Playing a match every two months, that's not possible."
Source : PA
Source: PA