Vela is looking to help the club win their first trophy since the 2005 FA Cup.
“I’m very happy to sign a new contract and I’m very excited to be spending more years with Arsenal,” said the Mexican starlet to the club’s official website.
“I just want to work hard and help this great club win trophies. I want to stay here for a long time and it’s a great responsibility.
“I will keep working hard to show the boss and all the fans why I’m here.”
