De Guzman was brought to the Liberty Stadium by Michael Laudrup after the pair worked together at Real Mallorca, and has made 24 appearances so far for the Welsh club this campaign.
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The 25-year-old has revealed he has not thought about his options yet, but much depends on whether his parent club can gain promotion back to La Liga, after their remarkable fall from Champions League status to relegation to the Segunda division last season.
"I expect to talk with Villarreal within a couple of months. Much will depend on if the club returns to La Liga," De Guzman told Voetbal International.
"But whether I will return to Spain or keep playing for Swansea City, that is something I haven't thought about yet. Currently I am just happy I play on a regular basis."
The former Feyenoord also spoke highly of his Spanish team-mate Michu, who has been labelled the signing of the season, scoring 16 goals in 24 appearances, stating the attacking midfielder has been pivotal for the club.
"He makes the difference for us," he added. "Last year, I saw Michu score a lot of goals for Real Vallecano in La Liga, but now he is even more effective."