Los Che only purchased the player last summer from Monterrey, but he was allowed to leave on loan at Sao Paulo in January this year.
And with the forward not exactly in the first team plans of new boss Juan Antonio Pizzi, Valencia plan to cash in on Pabon at the earliest opportunity.
Super Deporte understands that his former club Monterrey are ready to pay around €8 million for the Colombian and there is every chance los Che will accept the offer.
The well-travelled forward has played for Parma, Real Betis, Monterrey, Valencia and Sao Paulo since leaving Atletico Nacional, but he has enjoyed his best form during the six months at Estadio Benito Villamarin.
Dorlan Pabon, 26, is unlikely to make Colombia’s World Cup squad having last played for the national team in October 2012.