Fabián Orellana has become Valencia's second signing of the January transfer window after completing a deadline-day switch to Los Che.
Initial loan with obligation to buy
After passing a medical on Tuesday, Orellana moves to Mestalla on an initial loan deal featuring an obligatory end-of-season purchase clause.
Valencia are set to pay 3 million euros for the 31-year-old Chilean in the summer, of which around 500,000 will go to former club Granada.
Capped 39 times by his country, Orellana scored 37 goals in 172 appearances for Celta before being frozen out by boss Eduardo Berizzo following a recent bust-up.
Orellana follows Zaza signing
Earlier in January, Valencia brought in Italy striker Simone Zaza - who spent the first half of the season at West Ham United - on loan from Juventus.