When catastrophic failure phenomena in aircraft structures, such as debonding, are numerically analyzed during their design process in the frame of “Damage Tolerance” philosophy, extreme requirements in terms of time and computational resources arise. Here, a decrease in these requirements is achieved by developing a numerical model that efficiently treats the debonding phenomena that occur due to the buckling behavior of composite stiffened panels under compressive loads. The Finite Element (FE) models developed in the ANSYS© software (Canonsburg, PA, USA) are calibrated and validated by using published experimental and numerical results of single-stringer compression specimens (SSCS). Different model features, such as the type of the element used (solid and solid shell) and Cohesive Zone Modeling (CZM) parameters are examined for their impact on the efficiency of the model regarding the accuracy versus computational cost. It is proved that a significant reduction in computational time is achieved, and the accuracy is not compromised when the proposed FE model is adopted. The outcome of the present work leads to guidelines for the development of FE models of stiffened panels, accurately predicting the buckling and post-buckling behavior leading to debonding phenomena, with minimized computational and time cost. The methodology is proved to be a tool for the generation of a universal parametric numerical model for the analysis of debonding phenomena of any stiffened panel configuration by modifying the corresponding geometric, material and damage properties.