The 23-year-old's loan spell from Audax Italiano is due to finish in the summer.
Villanueva has struggled to establish himself at Ewood Park but he said: "I want to stay as I feel as though I am learning every day.
"It is very different in England from Chile. The game is quicker and stronger. It takes time to adjust and I feel I would improve next season.
"When I arrived in Blackburn I got chickenpox and could not train for three weeks. Now things are better. This is one of the best leagues in the world and I am enjoying being part of it.
"While I would like to be involved in more games, it is ok. I am happy at Blackburn. I do not know anything about my future but I am not worried about that.
"My focus is on the remaining games and trying to help Blackburn if I get the chance. I will always give my best."