Canales will spend this season on loan at Valenica and the club have an option to make the move permanent.
Canales told Valencia’s official website: “I’m very pleased that a club like Valencia have been interested in me.
“It fills me with pride to come to Valencia and it’s where I wanted to play.
“It’s a great club who fight every year at the top both at both a national and European level. As well as that, it’s a very important step which allows me to continue playing among the elite of football.”