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The victory lifts Barcelona to third place in the standings with 42 points, three behind Atletico Madrid and seven adrift of Real Madrid, who lead the table.
Valencia, who are battling relegation, remain in 19th place with 16 points after suffering their first loss in five matches across all competitions.
Frenkie de Jong opened the scoring in the third minute with a precise shot from the edge of the box. Barcelona quickly doubled their lead with a pass from De Jong, setting up Ferran Torres for the second goal.
Raphinha added a third goal before the 15-minute mark after Valencia's goalkeeper, Giorgi Mamardashvili, made a costly error. Lopez continued the onslaught with two more goals, making it 5-0 before halftime.
After the break, Hugo Duro pulled one back for Valencia with a close-range shot. However, Barcelona maintained their dominance, with Robert Lewandowski scoring a sixth and an own goal from Cesar Tarrega completing the 7-1 scoreline.
Barcelona, who secured a thrilling 5-4 win over Benfica to qualify for the Champions League last 16, will next face Atalanta in their final group-stage match of Europe's top-tier club competition on Wednesday.