A new class of plurisubharmonic functions on the octonionic plane O^2= R^{16} is introduced. An octonionic version of theorems of A.D. Aleksandrov and Chern- Levine-Nirenberg, and Blocki are proved. These results are used to construct new examples of continuous translation invariant valuations on convex subsets of O^2=R^{16}. In particular a new example of Spin(9)-invariant valuation on R^{16} is given.