The 20-year-old centre-back, a former England Under-18 international, has joined the Tigers on an 18-month deal to 2027 with an option of a further year in the club's favour.
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Debayo made his senior debut for Leeds as a late substitute in a 4-3 win against Swansea City in November 2024.
"A couple of months ago, I came in to train with the boys to get a feel for the place - I really liked it, and luckily, I'm here permanently now," Debayo told Hull's website.
"I feel I can progress here, become a more experienced player and get more games under my belt."