The hosts found themselves two goals to the good inside the opening 18 minutes against their local rivals, with Shkodran Mustafi opening up the scoring with his well-placed header.
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Daniel Parejo added the second in similar fashion, heading home from a corner to put Valencia well in command.
Los Che continued the second half where they left off the first, coming within inches of adding a third goal through Pablo Piatti's strike from the edge of the box which sailed narrowly over.
Manchester City loanee Alvaro Negredo could not quite add his name to the scoresheet late on, firing over with an effort from just outside the area, while a header from Jonathas in the dying seconds proved nothing more than a mere consolation for the visitors.
The defeat leaves Elche in the relegation zone, having now gone five games without a win.