Ramsey is currently recovering from fractured tibia and fibula that he suffered in February.
“I’m very happy here at Arsenal, it’s a great club and I’ve learned a lot since I’ve been here,” he told the club’s official website.
“Every player wants to play in a team where they can play football and I feel that this is the way it should be played, so that’s one of the reasons I signed a new contract.
“I think I can still develop my game a lot, and I’m in the right place to do that with the support of the manager and also a squad of very talented players.
“I’m convinced the next few years will be a time where my career kicks on to a new level, it’s an exciting time to be part of the club.”
