Copa América - Valencia ruled out for Brazil decider
"Valencia still has a lot of pain in his left ankle," team physiotherapist Tony Ocampo said at Ecuador's training session in Cordoba and doctor Patricio Maldonado confirmed the verdict on the winger.
The Manchester United player was trod on by an opponent during Ecuador's opening 0-0 draw with Paraguay in Santa Fe and also missed their second match, Saturday's 1-0 upset by Venezuela.
Valencia, replaced by Michael Arroyo against Venezuela, suffered severe bruising in the same place where he had surgery last year after breaking and dislocating his ankle during a Champions League match with United.
Ecuador face Brazil on Wednesday at the Mario Alberto Kempes stadium where the Brazilians drew 2-2 with Paraguay on Saturday.