The former Real Madrid man declared his desire to improve as a footballer and help Los Che improve upon their third-placed finish last term by claiming some form of silverware
The 23-year-old made 16 Liga appearances last term as Los Che secured a place in the Champions League by finishing third in the league, but he is now setting his sights on competing for honours next season.
"I hope Valencia can win a title which I think they deserve," Parejo said in an interview with Marca.
"It's a new stage, a new year, and for that reason, there are new targets. We have to compete against ourselves, go a step further and hopefully we can make things better for Valencia next season."
Parejo went on to admit that he had found his first year at the Mestalla difficult but claimed the experience has made him a better player, though there is still much room for improvement.
"It is a difficult position [midfield] where there are many players. Last year I had a hard time and I learned so much. I hope the same does not happen this year because I have a lesson well learned," he noted.
"[I want to] improve as a player and as a person, while in the collective aspect to improve the numbers [of league points] we got last year.
"Last year I progressed a lot, but I think I have room for improvement. This year I hope I get more involved in the defensive side of the game and become a better footballer."