 Joining neighbours Valencia CF for 2003–04 in a €4 million deal, López played 26 matches and netted four times as they were proclaimed national champions.After a loan to fellow league side RCD Mallorca, he would only collect 19 league appearances in the next two seasons combined, mainly due to injuries.López was released by Valencia in 2007, and was signed by Racing de Santander on a free transfer, where he was a key element in the team's first-ever qualification to the UEFA Cup after a sixth-place finish.