Arsenal manager Arsene Wenger announced the transfer after the game against Chelsea.
The press reported rumours of a reported £12million move for Coquelin, and Wenger confirmed the 26-year-old is on his way out of Arsenal.
Asked by Sky Sports after Arsenal drew 0-0 at Chelsea if Coquelin was about to leave Arsenal, Wenger replied: “Yes.”
Wenger later added at a post-match news conference: “He goes to Valencia, he didn’t get enough games.
“I let him go.”