The 31-year-old Spain international has 12 months to run on his existing deal with the Catalan club, and has made no secret of his desire to end his career away from La Liga.
Gunners boss Arsene Wenger has been alerted to Valdes's uncertain situation, and is believed to be keen to lure the Barcelona stopper to the Emirates Stadium, to provide competition for current first-choice goalkeeper Wojciech Szczesny.
Arsenal face competition for the player's signature, though, with Premier League rivals Liverpool also mooted as admirers, as Brendan Rodgers continues his search for a successor for Pepe Reina, who has been continually linked with a move away from Anfield this summer.
However, any hope either English club might have had of signing Valdes ahead of the 2013/14 campaign have now been dashed after Barcelona president Sandro Rosell told Spanish newspaper Marca that the player's agent Gines Carvajal has spoken with the club's director of football, Andoni Zubizarreta to confirm that he'll see out his contract until June 2014.
"Valdes's agent has officially informed our director of football, Andoni Zubizarreta, that Victor intends to see out his current contract, which we are pleased to hear," Rosell confirmed.
Ironically, Liverpool goalkeeper Reina has been linked with a move to Barcelona as the man to replace Valdes when he leaves, meaning that Arsenal could potentially miss out on the signing if the other two clubs were to negotiate a part-exchange deal.