In a first half utterly dominated by the hosts, Schweinsteiger's deflected effort seven minutes before half-time put Bayern in front, before Toni Kroos effectively sealed the three points with a powerful drive inside the final quarter-hour. Former Borussia Dortmund man Nelson Valdez struck a consolation for the visitors, before Mario Mandzukic missed a penalty in injury time.
Bayern, with new signings Claudio Pizarro and Javi Martinez in the starting eleven, began the match purposefully, with the returning Franck Ribery at the heart of all their good work. With just four minutes on the clock, the Frenchman sped past Joao Pereira and put in a wicked cross, but Kroos fired wastefully over the bar. Ribery then sent a volley wide, before Kroos and Arjen Robben both tested Valencia keeper Diego Alves with decent efforts from distance.
There was next to nothing to be seen from Valencia in an attacking sense, with Dante looking particularly commanding at the back for Bayern. Despite enjoying the lion's share of possession, however, clear-cut chances were at a premium for the hosts. Robben opted to cut back inside and had his effort deflected over the bar when he might have been better to go for goal first-time, before Dante went close with a header from Kroos' corner.
Schweinsteiger breaks deadlock
There was a sense of impatience among the crowd, who felt that the home side needed to add more urgency to their game and shortly before half time their prayers were answered. Schweinsteiger won possession strongly on the halfway line and after the ball reached Robben on the edge of the box, the Dutchman had the presence of mind to play in Schweisteiger to finish off the move he had started.
Having been completely passive in the first half, Valencia emerged from the dressing room with far more determination. Cissokho's cross forced a smart save from Manuel Neuer, before Tino Costa had the visitors' first actual shot on goal. Moments later, a quick counter-attack led by Sofiane Feghouli found Ricardo Costa alone in the box, but the former Wolfsburg man was flagged offside.
Visitors threaten, Kroos makes it two
Kroos forced an acrobatic stop from Alves but it was the Spanish outfit that were controlling proceedings temporarily, with the impressive Feghouli causing problems for the home side. The Algerian was seeing plenty of the ball and almost grabbed an equaliser when he out-paced Dante to fire a shot in at goal, but was denied by a timely challenge from Jerome Boateng.
The atmosphere in the stadium had become slightly subdued - the wounds of last year's final defeat to Chelsea remain fresh - and Jupp Heynckes reacted by replacing the ineffectual Claudio Pizarro with Champions league debutant Mario Mandzukic. It turned out to be a telling change, as the Croatian's introduction lifted his teammates, indirectly leading to the Bavarians' second. This time it was a mistake from Feghouli that was pounced on, as Kroos stole possession and found the top corner with a superb strike.
Valdez hits consolation
With a two-goal advantage, the result was to all intents and purposes sewn up. Philipp Lahm went close to adding a third with a deflected strike, while Robben's free-kick was charged down with Mandzukic sending the rebound wide of the target. In an entertaining final few minutes, Valencia ensured an entertaining finale when Valdez rose to nod in Jonathan Viera's cross, before Mandzukic was denied a debut goal when Alves saved his weak penalty after Adil Rami had been sent off for pulling down Robben in the box in injury time.
FC Bayern: Neuer - Lahm, Boateng, Dante, Badstuber - Schweinsteiger, Martinez (Gustavo, 69') - Robben, Kroos, Ribery (Müller, 46') - Pizarro (Mandzukic, 63')
Valencia: Alves - Pereira, Rami, R. Costa, Cissokho - T. Costa, Parejo - Guardado (Viera, 71'), Jonas (Valdez, 63'), Feghouli - Soldado
Goals: 1-0 (Schweinsteiger 38'), 2-0 (Kroos 76'), 2-1 (Valdez, 90+1')
Sent off: Rami (90')