Yes, PERCEPTION is a Scrabble word!

Letter values in Scrabble US: P 3, E 1, R 1, C 3, E 1, P 3, T 1, I 1, O 1, N 1.

Is it a valid word?

PERCEPTION is a valid word in the official Scrabble dictionary (US), the UK Scrabble Dictionary and Words with Friends (ENABLE).

the representation of what is perceived; basic component in the formation of a concept
a way of conceiving something
the process of perceiving
knowledge gained by perceiving
becoming aware of something via the senses

Also: perceptual experience.