The England international has started just six times this season, making nine Premier League appearances in total.
Winks has Spanish ancestry through his grandparents and wants to play football on the Iberian peninsula.
And according to Sport - viafootball.london - the 25-year-old could get his wish this summer.
Valencia looked to sign Winks on loan in January, having not been able to muster the finances for a permanent deal.
But with the club set to be bought by crown prince of Southern Malaysia state Johor, Tunku Ismail Sultan Ibrahim, there will be funds to buy players such as Winks.