The goalkeeper, whose current deal runs until 2014, revealed on Friday that he will not be signing a new contract with the Catalan side.
"We were holding the first meeting to initiate the process for renewing Victor's contract. The meeting began with us expressing the club's desire to extend his contract, because we consider him to be a top-class goalkeeper," he told Barca TV.
"But before we could make any proposal or discuss anything, his agent said the decision was already made and meditated, and that he will not be staying any later than June 30, 2014. It is an irrevocable decision.
"We must respect the professional decision of a player who has spent 12 years in this home."
Valdes has made over 400 appearances for Barcelona since making his debut in 2002.