At the start of the campaign, Pereira was allowed to link up with the La Liga side for the rest of the season, and the Brazilian has gone on to make 25 appearances in all competitions.
Pereira has struggled to make an impact at Old Trafford since joining United in 2014, but the player has indicated that he wants another opportunity to impress Jose Mourinho.
The 22-year-old is quoted by the South China Morning Post as saying: "Valencia approached my agent and said they want to buy me which is flattering, but it wasn't like it was reported in the media.
"People said I'd demanded talks with Jose Mourinho when I've demanded nothing. The Valencia coach speaks with me a lot and we have a good understanding, but as far as I'm concerned, I'm still a Manchester United player, with a contract at Old Trafford until 2020 and an ambition to make it at United. I've never sought to leave United."
Pereira has made just two starts and 11 substitute outings for United in all competitions.