MADRID took the lead through Benzema, who calmly slots the ball beyond Cillessen after latching onto a quick pass from Hazard.
Super Asensio double the lead the host with less than a minute after making his long-awaited comeback.
The Spain international was on hand to drill home Mendy’s cross with his first touch. A dream return for Asensio.
Before sensational Benzema doubled his tally of the night to complete the rout for Madrid.
Asensio lofted a pass into the Frenchman, who expertly controlled the ball with his right foot, lifting it over Guillamon, before – on the volley – hammering it home into the top-left corner with his left.
An ultimately convincing display from Madrid, who move to within touching distance of title rivals Barca thanks to Benzema’s double and a strike from Asensio.
Valencia, meanwhile, remain in eighth, but have missed a chance to add more pressure to the teams above them, especially with Real Sociedad having slipped up earlier.