The Spaniard has only featured for 29 minutes since the beginning of September because of a thigh complaint.
However, he recently returned to training and manager Michael Laudrup confirmed during a press conference earlier today that the 28-year-old is in contention to feature against Los Ches.
"I don't think Pablo is desperate to play against Valencia, I think Pablo is just desperate to play," Laudrup told reporters. "He has been out for many weeks, came back and played half a game and was then out again. Maybe desperate is too strong but he is really excited to come back and play."
The Swans paid their opponents £5.5m for the winger last year.