On March 3, 2004, Valiquette was traded by the Oilers, along with forward Dwight Helminen and a second-round selection in the 2004 draft to the New York Rangers for center Petr Nedvěd and goaltender Jussi Markkanen.

[3] Valiquette spent the 2004–05 season with the Rangers' AHL affiliate, the Hartford Wolf Pack, during the NHL lockout.

[9] With the departure of starting goalie Kevin Weekes to the New Jersey Devils, in July 2007, Valiquette became the back-up to Henrik Lundqvist.

[16] He did not play for the Rangers again, and on July 15 Valiquette signed with the KHL side HC CSKA Moscow,[17] who bought out his contract after one season.

[18] During the summer of 2011, Valiquette turned down an offer to return to Lokomotiv Yaroslavl, due to a lack of guaranteed playing time.

This proved fortunate for him, in light of the 2011 Lokomotiv Yaroslavl plane crash, which killed nearly the entire team and staff.

[20][21] After his season at HC Valpellice, Valiquette signed with Swedish club Djurgården of the HockeyAllsvenskan league,[22] but instead retired due to injury.