The 24-year-old England international will reportedly earn more than £300,000 per week (€340,000), cementing his status as the squad's top earner.
Saka's previous deal was set to expire in 2027, so this agreement extends his stay by four more seasons. It marks the latest move in Arsenal's strategy to retain key talent, following recent contract extensions for Gabriel Magalhaes, William Saliba, Myles Lewis-Skelly, and Ethan Nwaneri.
Bukayo Saka, who has netted eight goals in 34 appearances for Arsenal this season, seals his new deal as the 'Gunners' fiercely contest their first major trophy since the 2020 FA Cup.
A product of Watford's academy, Arsenal signed the forward at the age of seven. He progressed through various youth ranks before establishing himself as an undisputed starter for the club, making 297 appearances since his debut in 2018.
Internationally, Saka has earned 48 caps for the England national team, scoring 14 goals.