The France international has fallen down the pecking order at the Emirates Stadium, having lost his place to Hector Bellerin following a long-term shoulder injury sustained last season.
The former Newcastle full-back has made just seven appearances in all competitions this term and says a move away, be it a loan or a permanent transfer, is needed ahead of the European Championship this year.
Asked by L'Equipe about interest from rock-bottom Villa, Debuchy said: "It's true, they are among the teams seeking me. I'm currently studying everything but it's not a possibility I have excluded.
"Whatever happens, even if it is to return [to Arsenal] this summer and then start again, I have to go this winter. I can not stay at Arsenal.
"[Villa's position] makes you think. This is also why I take my time before deciding. On the other hand, it can also be a great challenge. While they are currently in difficulty, Aston Villa is one of the major English clubs. This is also why I do not rule out this possibility.
"[The interest from Leverkusen] is true and it may interest me too. The most important thing is to play in an attractive league."
READ MORE | Stoke fans hate me more than Tottenham do!
Debuchy faces competition from Bacary Sagna and Christophe Jallet at right-back in France's squad for the Euros in June and July, the 30-year-old having struggled to feature regularly during friendlies following the World Cup in 2014.
"As the weeks go by, we get closer to the Euros. I have to play to try to return as soon as March for the Netherlands and Russia friendlies," he added.
"I clearly lost six months. I would have preferred to leave last summer but the coach [Wenger] told me that I would have my chance. Ultimately, it was not the case.
"I do not know who is responsible. Last year I got injured, I've been away a long time and Bellerin had some good matches. This summer, I had a good preparation and I was able to resume the season as the regular but the coach decided otherwise.
"That's competition, do not worry. This is football. But it was 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.
"I do not know in what condition I am. In my position, you must defend and attack. If you played me tomorrow, I do not know if I could last the whole game. That's why I can not stay in this situation."