However, the 28-year-old will not be allowed to join the Premier League club until a problem with his agents has been resolved, Amadeo Salvo said in the daily El Mundo.
"The deal with Tottenham has been completed. A problem with Soldado's agents has come up and the player will not leave the club until a solution has been found," Salvo said.
Spanish media reports put the transfer fee at 30 million euros (£26.2m) for Soldado, who scored 30 goals in 46 appearances for Valencia last season.
Spurs spent about £17m to bring in Brazil midfielder Paulinho from Corinthians earlier this month, a similar amount to the record fee they paid Blackburn Rovers for winger David Bentley in 2008.
Media reports claim Real Madrid have offered a world record fee in excess of £85m for Tottenham's 24-year-old Wales midfielder Gareth Bale, who signed a four-year deal last year, but there has been no official comment from either club.