That is according to the Ecuador international’s father, who also acts as his agent.
Valencia is set to leave Manchester United at the end of the season when his contract expires.
The deadline to trigger a one-year extension passed on March 1 and Ole Gunnar Solskjaer admitted an exit was likely.
According to Valencia’s camp, Arsenal face competition from Premier League rivals West Ham for his signature.
Luis Valencia told El Universal: “He definitely will not continue in Manchester.
“He wants a change in the air and the club is not going to renew him either.
“Like everything in life, everything comes to an end.”
Valencia Snr’s admission came on the same day that:
When asked about a potential next move, Valencia Snr added: “Arsenal, West Ham, Inter Milan and one club from China are options, but in football everything is changing.
“He wants to choose the best option, but above all he wants to sign a contract for two years.
“Not for the money, but for peace and hopefully, he told me, be hired by a team that fights for important things.”
Valencia has missed the bulk of Solskjaer’s reign due to injury.
When speaking about the 33-year-old earlier this month, the interim boss said: “He’s still not 100 per cent fit, still working to get back fit and he’s had a fantastic career here at Manchester United and England.
“He is one of the Premier League winners left in the dressing room but I’m not sure if Manchester United and Antonio will agree on the next year so it depends if he gets back on the pitch in the next few months but he’s the captain, great servant to the club so hopefully I can get him on the pitch and show what he can do.”