It was the Force India team's first-ever pole and the fourth for 36-year-old Fisichella, who has been heavily linked with a switch to Ferrari for next month's Italian Grand Prix.
"This is one of my favourite circuits, I did well in the past and I was sure we would be competitive again this year. I didn't expect to be on pole though. It feels just great, like a dream," said Fisichella.
"I'm so happy for myself, for the team, for the mechanics, the engineers, who have done a fantastic job. They did a great step forward for Valencia for the last race considering our budget and our resources," said Fisichella
He also said, "This morning we had a small accident when I hit a rabbit, but my engineer said it would be lucky and it was. What a result. I am now not only looking for points, but for more. We've got this far we need to finish the job."
Fisichella's joy was shared by team principal Vijay Mallya.
"What an unbelievable result we have had here. I am so proud of Giancarlo, the team in the garage and the factory and also for the entire Indian nation," said Mallya.