The 27-year-old has long been linked with a move to the Premier League.
“There is a concrete offer from Michael Laudrup,” the player’s representative Bayram Tutumlu told Sky Sports.
“The coach has spoken with Pablo and has explained his new project and that he could be a key man in the side.
“Pablo has always wanted to play in the Premier League.”
Hernandez’s current contract with Valencia is set to expire in the summer of 2014.
Manchester City and Liverpool have also been linked with the winger.
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Liverpool have unveiled their new home kit for next season, sticking with the hugely popular retro styling of the current shirt.
The reputation of the Premier League means it is the most popular and one of the most watched leagues in the world.