The 21-year-old is enjoying something of a breakthrough season as he has scored three goals in four games for Spain since making his senior international debut in September.
Alcacer has also netted four times in nine La Liga appearances – he managed six in the league in the whole of 2012-13.
That form has reportedly attracted interest from the likes of Arsenal, Premier League leaders Chelsea and Tottenham, but Alcacer wants to stay at Valencia beyond his current contract, which runs until the end of next season.
"Both parties have the same desire," the youngster told reporters ahead of Sunday's league clash at Villarreal.
"I am concentrating on playing.
"Valencia want to [extend his deal] and so do I and my family.
"But there is no rush and I am very clear in my mind."
