Micron-sized aluminum (Al) particle combustion under elevated gas condition is critical for improving energetic material performance, impacting propulsion and explosives technology. This study utilizes Eulerian-Lagrangian method to investigate Al particle combustion dynamics, encompassing both heterogeneous reaction (HTR) and homogeneous reaction (HMR). It focuses on the critical role of the equivalence ratio in single Al particle combustion, highlighting the interplay between HTR and HMR, aiming to optimize energy release and emission control. Our study identifies four stages in the combustion of a single Al particle, where the highest heat release is attributed to HTR, succeeded by HMR, and the minimal from unburned Al vapor. We observe a decline in the total heat release rate with an increasing equivalence ratio, primarily due to the differential impacts of heterogeneous and homogeneous reactions. The thermal-runaway stage in HTR is governed by the particle temperature, while the subsequent decaying stage is influenced by either the diminishing effective Al droplet diameter or the availability of oxygen, contingent upon the fuel conditions. Utilizing Cantera software to analyze HMR allows us to elucidate the thermal effects of elementary reactions and the key reaction pathways. These findings underscore the complex interactions between Al particles and the surrounding gas, providing insights into optimizing the conditions for Al-containing reaction systems.