The Spanish midfielder joined the Baggies last summer for a club record £4.7million but failed to score a Premier League goal as he struggled to make an impact.
With the West Midlands club suffering relegation last term, Valero has vented his feelings by declaring his desire to seal a loan switch to former club Mallorca.
"I prefer to play in Mallorca and not to be in the second division in England," the 24-year-old said.
"This is clear. I am disposed for a loan return but it is necessary for an accord between the clubs.
"Mallorca have not contacted directly with me but contact does exist and I await news."
Valero developed through the youth ranks at Real Madrid before moving to Mallorca where he enjoyed a successful season before his switch to England, and the Spaniard admits he has fond memories of his time there.
He added: "I have big memories of my stay in Mallorca. The season with Dani Guiza and Ibagaza in the squad was sensational."