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."