The north London side confirmed the reports via social media of 18 years old penning the deal.
Saka took to his page to react, he said that London is he's hom, adding that he's glad to have extended his contract.
He tweeted:
"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 !!"
Meanwhile, Arsenal's forward Alexander Lacazette reacted to his team mate.
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