The 20-year-old has impressed for the Gunners since joining the club from Southampton in January 2006.
Wenger told the club’s official website: “We are absolutely delighted that Theo has committed his long-term future to Arsenal Football Club. Theo is an intelligent player with amazing ability and speed, and has developed extremely well this season.
“At still only 20 years of age, Theo has huge potential for the forthcoming years and we are all looking forward to see him grow even more in an Arsenal shirt.”
