The magneto-Seebeck (MS) effect, which is also called magneto-thermo-power, was observed in Co/Cu/Co and NiFe/Cu/Co spin valves. Their Seebeck coefficients in the parallel state were larger than those in the antiparallel state, and the MS ratio defined as (SAP -SP)/SP could reach –9% in our case. The MS effect originated not only from trivial giant magnetoresistance but also from spin current generated due to spin-polarized thermoelectric conductivity of ferromagnetic materials and subsequent modulation of the spin current by different spin configurations in spin valves. A simple Mott two-channel model reproduced a –11% MS effect for the Co/Cu/Co spin valves, qualitatively consistent with our observations. The MS effect could be applied for simultaneously sensing the temperature gradient and the magnetic field and also be possibly applied to determine spin polarization of thermoelectric conductivity and the Seebeck coefficient of ferromagnetic thin films.