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Arsenal Football Newsletter
The 24-year has signed a new five-year deal, committing his future through to 2031.
It is understood that Saka will earn in excess of £300,000-week, making him the club’s highest-paid player.
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A verbal agreement was reached between club and player last month, before Saka this week put pen to paper to end any doubt over his future.
His existing deal had been set to expire at the end of next season, but there was always confidence that an extension would be agreed.
“Reflecting on his emotions after signing his new long-term deal,” Saka has told the club’s official website.
“I'm feeling amazing. I think it's a fantastic moment for my family and for me. I feel immense joy to continue my journey at this club. For me, it was an easy commitment and I just hope to win everything here.
“The journey that I've been on, from where I started to where I am now, and the journey the team's been on as well, is a special one. I believe the next few years are going to be the years that we get over the line, and we're able to win trophies and make history for this club. We're back where we belong, fighting for everything.”
Saka effectively confirmed the new contract on Wednesday night.
After scoring the opener in the 2-2 draw with Wolves, Saka celebrated by turning to the away fans and mimicking signing a contract on his hand.
Saka’s headed finish against Wolves ended a 15-match goalless run across all competitions.
He has started the last two matches in the No10, with Mikel Arteta searching for solutions in the absence of Martin Odegaard and Kai Havertz.
Arsenal have pushed this season to secure the futures of key first-team players.
William Saliba and Gabriel have signed long-term deals, while Myles Lewis-Skelly and Ethan Nwaneri also committed their futures to the club last summer.
Max Dowman will follow suit by signing professional terms when he turns 17 in December.
More follows.