The Bulgarian striker has just recovered from a long-term knee injury.
Hughes said: "Valeri had a really bad injury but it looks as though he has come through that.
"I think everyone enjoys the way he plays. He plays with a smile on his face and when he scores there is always a great celebration.
"We are delighted he is back. It is like having a new signing as he's had hardly any football here.
"Valeri is looking strong and has the potential to be a match-winner this year. We are looking to bring him on and give him more game time."