Striker Carlos Vela has signed a new long-term contract with Arsenal, the club have announced on their website.
The Mexico forward signed for Arsenal after coming through the youth ranks at Guadalajara and has subsequently had loan spells at Celta Vigo, Salamanca and Osasuna.
The 20-year-old made Arsenal his debut last season, bursting onto the scene with a Carling Cup hat-trick against Sheffield United in September 2008.
Manager Arsene Wenger said: "We're delighted that Carlos Vela has signed a new long-term contract with the Club.
"Carlos is a fantastic talent and we have already seen glimpses of this during his performances."
The Frenchman continued: "Let's remember, he is still only 20 years old, so there is still a huge amount to come from this boy.
"We have invested a lot of time in Carlos, as we put him in Spain for two years to get some good experience.
"Now he's back with us, we're working hard with him every day and he is a very exciting player.
"We're looking forward to seeing Carlos score many goals in an Arsenal shirt for a long time to come."
Vela said: "I'm very happy to sign a new contract and I'm very excited to be spending more years with Arsenal Football Club.
"I just want to work hard and help this great club win trophies. I want to stay here for a long time and it's a great responsibility. I will keep working hard to show the boss and all the fans why I'm here."
Vela played last night against Olympiacos in the Champions League but he was one of the biggest culprits as Arsenal squandered a number of chances.
Vela is the 11th first-team player to commit his long-term future to Arsenal since the end of last season.
Vela, Eduardo, Sanchez Watt, Alex Song, Nicklas Bendtner, Denilson, Robin van Persie, Theo Walcott, Lukasz Fabianski, Aaron Ramsey and Jack Wilshere have all recently signed new long-term extensions with the club.