The 20-year-old has signed a new three-and-half-year contract that will keep him at the club until 2013.
“He is delighted to have committed his future to Newcastle United,” Peter Harrison told Sky Sports.
“He signed on Monday, and it is great for him to get it out of the way so he can now concentrate on his football.
“He is a local lad and Newcastle was the only place he wanted to be, and it is a great deal for him.
“The fans have taken to him and I am sure he will become a huge favourite in years to come.”
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Summer 2016 is set to be a very exciting time for football fans, as this is when the long awaited Euro 2016 tournament kicks off.
Since Guus Hiddink arrived at the helm, Chelsea have improved considerably after a tricky start to the campaign.