The draw means there will be one Spanish side contesting the final on 14 May, while Juve must overcome last year's beaten finalists Benfica if they are to play in the showpiece in their own stadium in Turin.
Unai Emery's in-form Sevilla side coasted into the semi-finals with a 4-1 win over Porto at the Ramon Sanchez Pizjuan stadium to progress 4-2 on aggregate and secure the coach a tie against his former club.
Emery led Valencia to three top-three finishes in La Liga before leaving the Mestalla in 2012.
Valencia booked their place in the semi-finals with a remarkable comeback to beat Basel 5-0 on Thursday, overturning a 3-0 first-leg deficit.
Benfica stepped up their pursuit of a first European trophy for over 50 years with a 3-0 aggregate success against AZ Alkmaar, while Juventus edged Lyon 2-1 to advance 3-1 overall.
The Bianconeri last won this trophy 21 years ago, beating Benfica en route to that success, with both sides entering the competition from the UEFA Champions League group stage.
Europa League semi-final draw
Sevilla v Valencia
Benfica v Juventus
The first leg matches will take place on 24 April, with the return legs on 1 May.