SUMMARY Volcano seismology is an essential tool for monitoring volcanic processes in the advent and during eruptions. A variety of seismic signals can be recorded at volcanoes, of which some are thought to be related to the migration of fluids which is of primary importance for the anticipation of imminent eruptions. We investigate the volcanic crises at Villarrica volcano in 2015 and report on a newly discovered very-long-period (VLP) signal that accompanies phases of periodic long period (LP) signal burst. Despite their low amplitude emergent character, we can locate the source region of the 1 Hz LP signals to the close vicinity of the volcano using a network-based correlation method. The source of the VLP signal with a period of about 30–100 s appears to locate in the vicinity of two stations a few kilometres from the summit. Both stations record very similar VLP waveforms that are correlated with the envelope of the LP bursts. A shallow magma reservoir was inferred by Contreras from surface deformation as the source of inflation following the eruption in 2015. Cyclic volume changes of 6 m3 in this reservoir at 3 km depth can explain the observed amplitudes of the vertical VLP signal. We propose that the LP signal is generated by the migration of gas or gas-rich magma that is periodically released from the inflating reservoir through a non-linear valve structure which modulates the flux, and thereby causes bursts of flow-related LP signals and pressure changes observed as VLP deformation. Our model predicts that the correlated occurrence of LP bursts and VLP surface motion depends on the intensity of the fluid flux. A weaker flux of fluids may not exceed the opening pressure of valve structure, and higher rates might maintain pressure above the closing pressure. In both cases, the VLP signal vanishes. Our observation provides constrains for models of fluid transport inside volcanoes. At Villarrica the VLP signal, and its relation to the LP activity, reveal additional information about fluxes in the magmatic reservoir that might aide forecasting of volcanic activity.