The 26-year-old has impressed for Arsenal since joining the club from French side Lorient in 2010.
“I am so happy to have signed a new contract until 2017, it means a lot, notably that the club has a lot of trust in me,” he told L’Equipe.
“In 2017, I will be almost old.”
When asked if he was aware of the interest from Barcelona, Koscienly added: “Yes of course and frankly it is flattering. But at Arsenal I have everything; I have a great training centre, a wonderful stadium and an amazing group.
“I really want to grow here as Thierry Henry, Patrick Vieira and some others did.”
