Arsenal forward Bukayo Saka has signed a new long-term contract at the Emirates Stadium, the club announced on Tuesday.
ESPN reported in February that the 21-year-old was close to agreeing terms with Arsenal after they triggered an option at the turn of the year to extend his existing agreement through to 2024.
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"It's great for the club that Bukayo has extended his contract," Mikel Arteta said in a statement. "Retaining our best young talents is key to our continued progress and Bukayo represents such an important part of our squad now and for the future.
"As well as being a fantastic talent, Bukayo is a special person, he's loved by us all and he is a credit to himself and his family for the hard work and commitment they have all made to get to this level today.
"Together with our supporters, we're so looking forward to enjoying Bukayo's continued development with us in the years to come."
Saka has enjoyed an impressive campaign and played a key role in helping Arsenal challenge eventual Premier League champions Manchester City for the majority of the season.
The England international has contributed with 14 goals and 11 assists in all competitions this season.
Saka's performances saw him finish second behind City striker Erling Haaland in the prestigious Football Writers' Association (FWA) Footballer of the Year award.
The forward is the latest Arsenal player to commit his long-term future to the club after goalkeeper Aaron Ramsdale signed a new deal last week.