The Spain international had been linked with a move back to Barcelona, while Manchester City were also reportedly interested, but he has committed his future to the Gunners.
Arsenal defender Hector Bellerin has signed a long-term contract extension to end speculation over his future.
The Spain international, 21, had been heavily linked with a return to former side Barcelona, while Pep Guardiola was reportedly interested in taking him to Manchester City.
The agreement for Bellerin comes as a major boost to Arsenal, who are also locked in renewal negotiations with star players Mesut Ozil and Alexis Sanchez, both of whom are out of contract in 2018.
Bellerin joined Arsenal’s academy from Barca in 2011 and made his debut in September 2013.
Following a loan spell at Watford, the right-back established himself in the Gunners’ first-team from the 2014-15 campaign and was named in the PFA Team of the Year last season.
Bellerin was an ever-present in the 2016-17 Premier League, until suffering an ankle injury on international duty with Spain’s Under-21 team earlier this month. He missed Saturday’s 1-1 draw with Manchester United and is expected to spend four weeks on the sidelines.