Breanna Stewart was the women's Wooden Award winner after leading UConn past Syracuse in Tuesday's national championship game, the Huskies' 75th straight win.
The awards were given out during college basketball's nationally televised awards show in Los Angeles.
Midway through the season, Hield and Valentine surged ahead of the pack of Wooden contenders with rare numbers. Hield finished the season with averages of 25 points, 5.6 rebounds and 1.2 steals per game while connecting on 46 percent of his 3-point attempts and 89 percent of his free throws.
During Oklahoma's 44-point loss to Villanova in the Final Four, Hield became the Big 12's all-time leading scorer with 2,291 career points (former Oklahoma star Wayman Tisdale scored 2,661 career points when the conference was known as the Big Eight).
"It's been fun," Hield said Friday night of his journey. "And I can't be more blessed to be around college basketball. It's something I wanted to be around since I was a kid and saw all the great college basketball teams."
Valentine, who won the Julius Erving Award as the nation's top small forward, averaged 19.6 points, 7.6 rebounds and 7.6 assists this season. He is the first player to finish with averages that exceeded 17, 7 and 7 since assists became an official statistic in the 1983-84 season, according to ESPN Stats & Information.
This was the second straight season Stewart won the Wooden Award.
"It's a huge challenge," Stewart said of expectations. "And I credit a lot of it to Coach [Geno] Auriemma and the rest of the staff for all they do for us."
Also Friday night, Ulis won the Bob Cousy Award as the nation's top point guard, Iowa State's Georges Niang won the Karl Malone Award as the nation's top power forward, and Utah center Jakob Poeltl won the Kareem Abdul-Jabbar Award as the nation's top center.