Last week's Uefa Youth League clash ended in controversial circumstances when Alberto Gil's penalty was ruled to have hit the post despite crossing the line
Valencia are out of the Uefa Youth League, having seen their appeal regarding the controversial penalty shoot-out defeat to Chelsea rejected.
Last Tuesday's last-16 tie ended in acrimony when Alberto Gil's penalty, which came back out off the lower stanchion in the bottom-left corner, was incorrectly ruled to have hit the post and not crossed the line.
The decision drew outrage from senior Valencia officials and first-team head coach Gary Neville, but the result will stand following Uefa's ruling.
A Valencia statement read: "Valencia Football Club has been informed by the Uefa Control, Ethics and Disciplinary Body today about their decision to dismiss the club's protest against the penalty shootout in the Chelsea vs. Valencia CF match during the Uefa Youth League Round of 16.
"The club regrets the decision taken by Uefa.
"We wish to encourage our young players to continue to be motivated and believe in the fair play of football."
- Goal