The 19-year old midfielder is keen to develop his game further in a first team environment and says that a loan move to either Championship club could be on the cards.
"It was a difficult season for me with the injury and the comeback, but I think I will need to look elsewhere if the current situation continues," Frimpong told Citi FM.
"There have been talks about Cardiff and Charlton Athletic, but I know [I can be] a regular of Arsenal if I stay clear of injury. I know what I can do because I have already shown to people what I can do in the short period of time."
And Frimpong said that he was keeping his options open in case Gunners boss Arsene Wenger comes calling this summer.
"In football, to make it as a regular you need the manager to come up to you to say 'I am going to play you and not just for one game'," he added.
"I'm just going to wait for my opportunity. If Mr Wenger comes to me this pre-season and says 'Emmanuel I want to give you another opportunity' then I have to show him I can do what I did this season, but if he doesn't come up to me to say 'I'm giving you an opportunity' then obviously my time at Arsenal doesn't look too good."