The 59-year-old topped the leaderboard for a third consecutive week thanks to her Tango to I Gotta Feeling by The Black Eyed Peas.
According to bookmakers Coral, Debbie is now the favourite to lift the Glitterball Trophy after her odds were slashed from 7-2 to 2-1.
Meanwhile, Alexandra Burke has fallen into second place with odds of 5-2 to win the show.
In third place is JLS star Aston Merrygold, whose chances of being crowned the Strictly Come Dancing champion have slipped dot 3-1.
Aston, 29, ended up slipping dramatically down the leaderboard as he ended up in the bottom two with a paltry 25.
Debbie’s routine proved to be so impressive that notoriously tough judge Craig Revel Horwood even left his seat on the panel to kneel down and bow in front of the former magician’s assistant.
Debbie and professional partner Giovanni Pernice were left speechless as host Tess Daly told the couple it was a Strictly Come Dancing “first”.
Both head judge Shirley Ballas and Darcey Bussell struggled to offer their critique after the bizarre move.
“Well, that was strange, wasn’t it?” Darcey, 48, told them as she burst out laughing.
But once she composed herself, she told them: “Straight to the point, you gave me tingles down my back. That was extraordinary. You are on par with your professional. I don’t think I’ve ever see a Tango like that from a celebrity. Amazing.”
The pair were awarded 40 from the judges for the stunning performance that Shirley, 57, praised, telling her: “Debbie McGee, that was a beautiful international Tango.
“You had fast feet, you had soft legs and guess what – you had no rise and fall. So for me it was outstanding. Every week you’re just flying high and that was just unbelievable.
“Just congratulations, that’s one of the most difficult dances to do and you just executed with first class.”
Strictly Come Dancing continues on BBC One tomorrow at 7.15pm.
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