Welbeck scores winner
Valencia nodded home Ryan Giggs' floating cross in first-half stoppage time to give the visitors a deserved lead.
However, van Persie made up for an earlier miss with an equalising goal that capped a superb Arsenal move.
United had the last laugh - with Welbeck, linked with a move to Real Madrid this week, rifling the ball into the net in a crowded penalty box.
The result means United close the gap on Man City back to 3 points, following the Citizens' last-gasp win over Spurs earlier on Sunday.
Sir Alex Ferguson opted to make a number of changes from the side that beat Bolton, with Chris Smalling and Phil Jones amongst the back four following their return from injury.
Jonny Evans kept his place in the starting XI, but there was no place for Rio Ferdinand in the match-day squad due to injury. Anders Lindegaard was again preferred to David De Gea, maintaining his ever present record in 2012.
Ryan Giggs was drafted into midfield, replacing fellow veteran Paul Scholes.
Thomas Vermaelen, Alex Oxlade-Chamberlain and Tomas Rosicky came into the starting XI for Arsenal following their defeat at Swansea.
Arsenal were without on-loan French striker Thierry Henry. He was out with a calf strain, meaning he was denied the opportunity to extend his fine goalscoring record against the Red Devils.
Valencia's opener on the stroke of half-time was no more than United warranted, after controlling the opening half for long periods.
However, the visitors failed to carve out too many chances - though Nani went close when his low drive being saved by Szczesny.
The major down side of the first-half for United was Jones' injury. The defender was taken off on a stretcher after falling to the on the floor with a leg injury.
Arsenal looked much better as the second-half got underway, but both Robin van Persie and Aaron Ramsay were guilty of missing excellent opportunities.
Rosicky unselfishly squared to van Persie who hooked a shot wide of Lindegaard"s goal when he should have scored, whilst Ramsay fired an effort well over from inside the box.
As the hosts grew in confidence, Alex Oxlade-Chamberlain fired inches wide of the left post with a low shot from outside the penalty box.
An equaliser started to look increasingly likely and it came on 70 minutes. Laurent Koscielny made an excellent tackle at the back before finding Rosicky, who played an inch-perfect long-ball to Oxlade-Chamberlain. He charged forward, flicking the ball to van Persie, before the free-scoring Dutchman hit a fine, low finish from an acute angle.
The Gunners were in the ascendancy, but Arsene Wenger’s decision to replace Oxlade-Chamberlain with Andrei Arshavin did not go down well with the home support, or van Persie.
United remain calm – and grabbed the winning goal came on 81 minutes. Valencia easily beat an out-of-sorts Arshavin on the flank, before finding Welbeck who drilled his shot into the net to the delight of the travelling fans.
United held on through five nervous minutes of stoppage time to claim a crucial win and keep the pressure on their Manchester rivals.
Sir Alex Ferguson has completed a league double over Arsenal for the fourth time in his career, and United have now opened up a massive 15-point advantage over Arsene Wenger's men.
Full Time - Arsenal 0-1 Manchester United
Attendance – 60,093
View a Printer Friendly version of this Story.