The Emirates outfit made the announcement on their official website on Wednesday.
Saka and Arsenal has been at the loggerheads over the new contract since 2019 and reports had it that Manchester United and Liverpool are monitoring his situation at the club.
The 18-year-old who has been at the club since the age of seven has now committed his future to the club by signing new long-term deal.
“London is my home. Arsenal my team. I’m so happy to finally announce my contract extension. I love playing for this club and I’m looking forward to what the future holds. The hard work continues so I can continue living my dream, God is Great.” Saka said after signing the contract.
Bukayo made his Premier League debut at the age of against Fulham last season and scored his first senior goal in a 3-0 win at Eintracht Frankfurt in September last year.
Since making his debut in 2018, Saka has now gone to 37 first-team appearances, Club manager Mikel Arteta delighted the player has signed the new deal.
“Bukayo is a talented and intelligent young player. He has impressed me with his work ethic and attitude to learn and adapt, and it has paid off in his performances,”
” I am excited to continue working with him to develop him further, and for him to help us achieve our goals.” Arteta said.