Costa, who has been at Valencia since 2010, said that his agent will speak to the club but he is "very happy" to continue.
"People already know what I want," AS quotes Costa as saying. "I give it all for the team and want to speak to my agent and the president."
"It is logical that every player wants to feel valued. I get along with the president and he wants me to stay here."
Costa has three goals and two red cards in 23 games for Valencia this season.