The tournament was first played in Valencia in 1995 before moving to the Club de Tenis Puente Romano in Marbella for the 1996 and 1997 editions.
From 1998 to 2002, the event was held in Mallorca, and finally, in 2003, moved back to its location in Valencia.
It was an ATP International Series tournament held on outdoor clay courts until 2008.
In 2009, the Valencia Open and the Madrid Masters switched calendar dates and surfaces, with the Madrid Masters becoming an outdoor clay court tournament and Valencia getting into the ATP World Tour 500 series category as an indoor hardcourt tournament held in November at the newly opened L'Agora in Ciutat de les Arts i les Ciències.
In doubles, Alexander Peya and Bruno Soares have the record for most wins (two).