The playmaker has scored six goals in all competitions for the Spanish club in 20 appearances this season, but is determined to sign a new long-term deal, with his current contract running out in the summer of 2013.
The Valencia hierarchy are keen to make improved offer to the 23-year-old in order to ensure that he remains at the Mestalla for the foreseeable future.
Feghouli told Sky Sports: "I've been asked to stay behind and sort things out with the club. I will then join my country and give my all as usual.
"I do not want to go there without having signed a new deal and think about it. Hopefully all will go well and I will join the squad in enough time."
The French-born player has been linked with a potential move to Liverpool in the January transfer window and manager Brendan Rodgers is reported to be keeping a close eye on negotiations.