Monolayers of semiconducting transition metal dichalcogenides exhibit intriguing fundamental physics of strongly coupled spin and valley degrees of freedom for charge carriers. While the possibility of exploiting these properties for information processing stimulated concerted research activities towards the concept of valleytronics , maintaining control over spin-valley polarization proved challenging in individual monolayers. A promising alternative route explores type II band alignment in artificial van der Waals heterostructures. The resulting formation of interlayer excitons combines the advantages of long carrier lifetimes and spin-valley locking . Here, we demonstrate direct magnetic manipulation of valley polarization in a WSe2/MoSe2 heterostructure through giant valley Zeeman splitting of interlayer transitions. Remarkably, even after non-selective injection, the observed $g$ factor as large as $-15$ induces near-unity polarization of long-lived excitons with 100 ns lifetimes under magnetic fields. The demonstrated control of the spin-valley physics highlights the exceptional aspects of novel, artificially designed material systems and their promise for atomically-thin valleytronic devices.