
Sport said that Valencia president Juan Soler had a meeting "a few days ago" with an "emissary" from Jorge Mendez, Mourinho's agent.
Mourinho has been out of work since leaving England's Chelsea a month ago.
Valencia are third in the Spanish "Liga" but struggling in the Champions League after Wednesday's shock defeat away to Rosenborg.
Coach Quique Sanchez Flores - whose contract finishes in June 2008 - has become unpopular with the Valencia fans after several home defeats and many dull displays in the Estadio Mestalla.