The margin of victory could have been greater but for Dani Hernandez in the Valladolid goal, as the home side offered little attacking threat throughout.
Valladolid put pressure on their opponents from the kickoff, almost forcing Tiago into scoring an own goal. The Portuguese managed to divert the ball just wide though, before Atletico cleared the resulting corner.
The away side didn't have to wait long for their first chance. Colombian striker Radamel Falcao found space on the edge of the box but Hernandez was equal to his shot.
Five minutes later Falcao got his goal. A clever free kick on the edge of the box found Diego Godin free six yards from goal. Hernandez somehow managed to block the defender's effort, but could do nothing as Falcao followed up to tap in.
Valladolid started to gain more possession after that, without ever really threatening Thibault Courtois's goal. Oscar in particular started to gain more of an influence on the game.
With five minutes left of the half Gabi released Costa through the middle. Hernandez thwarted the Brazilian's chip before rushing to block Falcao on the follow-up.
Just ten minutes after half-time Atletico doubled their lead. A subtle header from Koke allowed Costa to run into the penalty area and smash the ball past Hernandez for 2-0.
The home side responded by bringing on former Manchester United forward Manucho, but the Angolan had little impact as Atletico remained comfortable.
There were few real chances thereafter, until the last minute, when a defensive mix-up allowed substitute Cristian Rodriguez to score from close range.
Atletico have now closed the gap on league leaders Barcelona to 12 points.