The 19-year-old moved to the club from Danubio last summer, but made just one league appearance during the 2013-14 campaign.
Gimenez did feature for Uruguay at this summer's World Cup, however, impressing in his three appearances for the South American side.
"I've talked to my representatives. I'll look at the possibilities and make a decision that is best for me. I need to play because I lost a year," he told AS.
"I grew up in many ways because European football makes you grow. But I have to return to Spain with my agent and find a solution to play.
"It was amazing to play at a World Cup at such a young age. I enjoyed it and the responsibility I had, but that's passed now and I have to look forward."
A number of European clubs are believed to be monitoring proceedings.