Bale scored his second and Madrid's third after 64 minutes, before he added his third in stoppage time as he registered his first treble for the Spanish outfit.
Here, Sports Mole dissects the 90 minutes of action between the two Spanish rivals.
On target: 12
On target: 3
Was the result fair?
A four-goal difference is just about a fair reflection of events in the Spanish capital this evening. Madrid had to be patient after some impressive defending from Valladolid in the early stages, but it was one-way traffic for the majority of the 90 minutes. The victory means that Madrid are now just three points behind Atletico Madrid and Barcelona, although the latter has played a game fewer.
Real Madrid's performance
In truth, the home side could and should have been out of sight at the interval, with Sergio Ramos passing up a couple of golden chances to find the back of the net. A two-goal lead after 45 minutes did not flatter the capital outfit, although they had to wait until the 64th minute to score their third. Questions have been asked about this team without a certain Cristiano Ronaldo, but they were on top form this evening. There were a number of standout performers for the home side, but Bale stole the show.
Real Valladolid's performance
How Valladolid fare this season will not depend on their results against teams such as Madrid, let alone away from home. However, they will be disappointed with their level of performance throughout the 90 minutes. They did manage to keep Madrid out until the 33rd minute, but never really threatened to harm the home side's defence during the entirety. It promises to be a long season for a team that has won just twice in the league this campaign.
Sports Mole's man of the match
Gareth Bale: The Welshman was surprisingly criticised after a slow start to life in Spain. Well, he has certainly come up with the answers in the last month or so. It was another glittering performance from the former Tottenham Hotspur attacker as he scored three times and assisted Benzema. He now has nine goals for Madrid. I suspect that he might break into double figures this season.
Biggest gaffe of the match
Valladolid's lack of invention this evening was extremely disappointing. Granted, they weren't exactly expected to open up and attack Madrid, but there was not a single period in the match where they attempted to force the issue. It was a performance that lacked composure and belief.
I do not think that Pedro Perez will have an easier match to officiate all season. The Spaniard was hardly seen in a free-flowing first period, while he was prepared to communicate with the players, rather than searching for his pocket. That was also the case in the second period as the tempo continued at a high level.
Real Madrid: Madrid are in Copa del Rey action next weekend against Segunda Division B side Club Deportivo Olimpic de Xativa.
Real Valladolid: Valladolid are also in Copa del Rey action on Friday, but they face familiar opponents in the shape of fellow La Liga side Rayo Vallecano.