Prior to Owen,
Other famous wearers have included
But Valencia is not too bothered about the history.
He just wants to keep making a significant impact on the Red Devils' fortunes.
"There is no extra pressure," he said.
"The club asked me if I would like to wear the number seven shirt and I said I would be delighted.
"I am excited to wear it and want to enjoy it, but really I just want to continue improving my own game."
A £16 million ($23.7 million) signing from Wigan in 2009, Valencia has had to overcome two serious ankle injuries to make an impact at United.
Though he lacks the obvious repertoire of skills Ronaldo is blessed with and does not have Nani's tricks,
Not that Valencia feels he is an essential part of Rooney's success.
"We all know Rooney," he said.
"He can do amazing things and doesn't just wait for me to assist him.
"There are other good players and he can do it on his own. He is looking good."
Paris Saint-Germain attacker Ezequiel Lavezzi believes Wayne Rooney would be a great signing if he swaps Manchester for the French capital.