Leading 3-1 from the first leg, Arsenal came from behind to win 4-2 on the night and 7-3 on aggregate.
Pierre-Emerick Aubameyang scored a hat-trick and Alexandre Lacazette was also on target as Arsenal became the third English club to reach a European final in as many days.
The victory was particularly sweet for Arsenal head coach Unai Emery, formerly of Valencia, who is attempting to win the competition for a fourth time.
Emery, who won the trophy three times in succession with Sevilla between 2014 and 2016, will now hope his side can book its place in next season’s Champions League with victory over either Premier League rival Chelsea or German side Eintracht Frankfurt.
That game went to extra time after it finished 1-1 on the night and 2-2 on aggregate.
Arsenal breezes through
After a difficult opening 15 minutes in which Valencia took the lead through Kevin Gameiro, Arsenal grew into the contest and hit back through Aubameyang’s exquisite finish.
That goal appeared to knock the home side’s confidence and when Lacazette added Arsenal’s second five minutes after the interval.
But Valencia rallied and Gameiro leveled just eight minutes later to set up a tense final half hour.
Yet, any hopes the home side may have had of a comeback were quickly curtailed when Aubameyang grabbed his second and Arsenal’s third with a neat finish
The Gabon international then completed his treble with just two minutes remaining to send Arsenal into the final on May 29.
More to follow…