The main goal of this paper is to construct an algebraic analogue of
quasi-plurisubharmonic function (qpsh for short) from complex analysis and
geometry. We define a notion of qpsh function on a valuation space associated to a
quite general scheme. We then define the multiplier ideals of these functions and
prove some basic results about them, such as subadditivity property, the
approximation theorem. We also treat some applications in complex algebraic
geometry.