Balague has stated that the Manchester United goalkeeper will sign a six-month loan deal with the Belgian outfit.
The Spanish football expert, who works for Sky Sports and AS, has also claimed that a deal with Besiktas collapsed.
Valdes himself has hinted on Twitter that he is leaving United with a farewell message to the fans.
Deal of V. Valdes to S. Liege not been signed yet (it was all agreed with Besitkas but collapsed). If he goes, it will be a 6 month loan— Guillem Balague (@GuillemBalague) January 21, 2016
The Spain international struggled with injuries before moving to the Premier League giants, but he is now fully fit.
The former Barcelona star’s current contract with United runs out at the end of the season.
United are fifth in the Premier League table at the moment with 37 points from 22 matches, just two points behind fourth-placed Tottenham Hotspur and seven behind leaders Arsenal.