The 19-year-old has been linked with Manchester United and Wigan recently.
“It’s another step forward in my professional career,” said De Gea.
“I’ve spent all my sporting life at Atletico Madrid and for me it’s an honour and a dream to be able to play in the first team having come up through the Rojiblanco youth system.
“Everything is happening very quickly, but my objective is to continue working as I’ve always done,” added De Gea on his club’s website.
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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.