The former Barcelona stopper joined Standard on loan in the January transfer window and helped the Belgian club win their domestic cup last month.
The 34-year-old is now heading back to Manchester, however, after a statement revealed that Standard are keen to "give playing time to young players" in their final couple of league fixtures.
"Since our priority is to give playing time to young players in our final games, plus their inability to be selected this week for medical reasons, the club have decided to end the loans of the Spanish goalkeeper [Valdes] and Greek midfielder [Ioannis Maniatis] as soon as this weekend," read a statement on Standard's official website.
"Standard Liege thank Victor and Ioannis for everything they have given to the club, especially during our winning run in the Belgian Cup, and wish them all the best in the remainder of their respective careers."
Valdes joined Man United in January 2015, but has only made two Premier League appearances for the Red Devils after a falling out with Louis van Gaal. The stopper is widely expected to depart Old Trafford on a permanent basis this summer.