Canales, 20, joined Los Che from Real Madrid on a two-year loan with an option to buy at the end of the contract and has impressed at the club despite only netting one goal.
Valencia’s medical staff have yet to make a decision over whether the midfielder will have to have surgery, but if he does he could miss a large part of the season.
Canales said on his official Twitter account:
“Thank you all, I shall never tire of thanking the fans. I am more eager than ever to recover.”
Valencia currently sit fifth in the La Liga table, but are struggling to qualify from their Champions League group as they sit four points behind Bayer Leverkusen.