The Ibrox striker, signed for £1.8 million by Paul Le Guen from Austria Vienna, was loaned out to the French side for the year after failing to impress manager Walter Smith.
Sebo scored only twice in 33 appearances before being offloaded and reports in France claim Valenciennes have already lined up Mons striker Mohamed Dahmane as their new forward for next season, meaning Sebo could be out in the cold again and on his way back to Ibrox.