[6] In 1769, the Spanish Portola expedition, the first Europeans to see inland areas of California, came up and over the pass from the San Fernando Valley and camped near the river on August 8–9.

Fray Juan Crespi, a Franciscan missionary travelling with the expedition, named the river "Santa Clara" and noted in his diary that the place would be a good location for a mission.

Valencia is notable for its landscaped boulevards connecting a mix of apartment buildings, single-family detached homes, shopping centers, office parks and industrial warehouses.

On November 30, 2013, Paul Walker, best known for playing Brian O'Conner in the Fast & Furious films, died in a car crash in Hercules Street, Valencia.

In many of the villages, homeowner associations oversee the quality and upkeep of housing developments ranging in size from a few dozen homes to over a thousand.

McBean Parkway passes by such landmarks as Chesebrough, Heritage, and Summit Parks, Bridgeport Lake; Hyatt Regency Valencia; Westfield Valencia Town Center; Santa Clarita Valley Medical Plaza; Henry Mayo Newhall Memorial Hospital; and the California Institute of the Arts.

Valencia contains most of the city's government buildings, hotels, car dealerships, medical centers, and corporate headquarters (see Economy section below).

They connect the entire community, making it possible to travel throughout nearly all of Valencia on foot or by bicycle without crossing a street at grade level.

In 2020, Ice Station Valencia was on the brink of permanent closure due to COVID-19, until the Santa Clarita city council unanimously voted to acquire the building for $14.2 million.

On February 23, 2021, the city council sold Ice Station to American Sports Entertainment Company and the Los Angeles Kings.

The rinks, covered with insulated floors, would double as venues for conventions, business meetings, concerts, birthday parties, and filming.