The Mestalla outfit have confirmed that they have secured the services of the Mexican ace, who is leaving the promoted Spanish club five years after his arrival
The Mexico international had long been linked with a move to Mestalla, and he is all set to join Los Che after agreeing a four-year deal that will keep him at the club until 2016.
"This is a very important goal my career, I am very excited," he told Valencia's website.
"This is something that I have dreamed about since I was a little boy, I was very eager to play in the Champions League.
"By joining Valencia I will make this dream come true."
Guardado, who signed for Deportivo in 2007, will join Valencia on a free transfer after his contract with the newly-promoted side expires this summer.
While Los Che fans celebrate the imminent arrival of Guardado, however, left-back Jordi Alba is still the subject of intense speculation linking him with a move to Barcelona.