The Nigeria international opened the scoring two minutes before halftime when he latched on to Nabil El Zhar’s long pass over the defence and poked it under goalkeeper Duda Aouate.
The former Inter Milan striker then combined twice with Ruben Garcia on the break for Garcia to double the lead in the 48th minute, before David Navarro headed in Levante’s third goal in the 55th.
Martins helped cap the win three minutes later when he stole the ball inside Mallorca’s area and passed for Navarro to assist Vicente Iborra.
Levante’s victory lifted them to sixth place in the Spanish league.
Mallorca are in danger of falling into the relegation zone after its 10th game without a victory.
Also at the weekend, John Utaka scored his second goal of the season for Montpellier in the French Ligue 1.
The 30-year-old former Portsmouth forward, who had not scored since his season opener in Montpellier’s 3-1 win over OGC Nice in October, opened the scoring with an excellent solo effort in the 28th minute as his side beat Ajaccio AC on Saturday.