Donaldson, obtained in a five-player trade from the Oakland Athletics had a 2014 salary of $500,000 US. Donaldson asked for $5,725,000 US while the Blue Jays countered with a figure of $4,300,00 US.
Donaldson, 28, hit 29 homers and had 98 RBI for Oakland last year with a ,255 average.
Valencia was paid $532,500 US in his 2014 contract. He asked for $1,675,000 US while the Blue Jays offered $1,200,000 US.
The 30-year-old Valencia played in 50 games for the Blue Jays last season, with two homers, 19 RBI and a .240 average.
Arbitration meetings will be conducted in February where the arbitrator will choose one salary figure or the other. However, both sides are able to negotiate and come to an agreement up until the date of the arbitration hearing.