Jorge Lorenzo's presence in the final MotoGP race of the season will only be confirmed within the next two weeks, his Yamaha team said.
The Spaniard missed last weekend's race in Australia after injuring the fourth finger on his left hand in a crash during the warm-up.
He underwent surgery in Australia before flying home to Barcelona to start his recovery, and he is also missing this weekend's race in Malaysia.
Yamaha said a decision on his participation at Valencia will depend on the progress of his recovery.
Lorenzo said he was eager to get back on the bike, and congratulated rival Casey Stoner after the Australian secured the title last weekend.
"Casey has had an incredible season with very few mistakes," said Lorenzo. "He has always been very strong and consistent so it has been very difficult to beat him. Congratulations to him, he has been the best this year and deserves his second title, a huge achievement as it comes with a different manufacturer.
"I would have liked to fight until the end, maybe until Valencia but the accident on Sunday has made it impossible. I am very proud of my team for all the hard work they have put in to take second in the Championship. Now we have to think about next year and work as hard as possible to win again.
"After the crash I was very worried that I would not have full feeling in my finger again. After the excellent treatment I received I have been assured I will have complete feeling in nerves and tendons. This gives me good confidence; I can't wait to get back on my M1 again!"