The 23-year-old is in demand following his exploits for Los Cafeteros at this summer's World Cup, earning links with a move to Liverpool and their Merseyside rivals, as well as Leicester City and Galatasaray.
Mina's agent was forced to deny rumours of a deal being struck between Barcelona and Everton last week, with a bid in excess of £20m likely to be required to snap up the centre-back.
Valderrama is worried about his compatriot joining a club of the Toffees' stature, however, and would prefer to see him at a team such as Galatasaray.
"The Premier League is attractive but for me the Champions League is the most prestigious," he told Radio Caracol. "I don't think Yerry should join a mid-table team like Everton.
"Fatih Terim has a great record of developing players. If it were me, I would pick Galatasaray."
Mina made just six appearances for Barcelona during his first five months at the club and is keen to play more regularly from next season.