A day earlier, the Frenchman, whose previous deal was due to run out by the end of the season, said he was about to extend his stay at the London club.

Wenger's new deal put an end to widespread speculation over his future.

"My heart belongs to Arsenal and my desire is to see this team win silverware," Wenger told the club's official website.

"My commitment and drive are as strong and fresh as ever. Signing a new deal means that I can see this talented group of players reach their potential. Trust me, they are ready to deliver.

"With my staff and players we are in front of an exciting challenge and we are looking forward to achieving much success."

The 60-year-old is Arsenal's longest-serving coach. He has taken the club's helm since 1996.

Throughout his lengthy spell, Wenger has won three Premier League silverwares, four FA Cups and led the club to the UEFA Champions League final.

Arsenal have not won a single trophy since 2005 but now Wenger is willing to end his team's title drought.

"We are thrilled that Arsene has signed an extension to his contract," Arsenal chairman Peter Hill-Wood stated.

"He has masterfully transformed this football club over the last 14 years and the exciting and compelling football we play under his stewardship is admired the world over.

"Arsene is a very talented man and we believe the young, exciting team he has nurtured over the past five years will reward his and the fans' patience with silverware."