The Belgium international has signed for Los Che on a season-long loan.
Super Deporte says the arrangement includes the option to buy - and with a set price of €50m.
Batshuayi admits his decision to join Valencia was influenced by coach Marcelino.
He said on Saturday: "What has convinced me is that Valencia is very competitive, fighting against the big clubs and playing the Champions League. But what convinced me was the conversation I had with Marcelino. I am human and that was key."