Odegaard joined the club from Real Madrid permanently in August 2021 for about £30m following an initial loan.

He featured in all but one of Arsenal's 38 Premier League games last season as Mikel Arteta's side finished runners-up to Manchester City and ended a six-year absence from the Champions League.

"Signing a new contract was a really easy decision for me for lots of reasons," Odegaard said.

"Mainly what we are doing right now as a club is special, and I want to be a part of that.

"I'm really excited for what's to come here. I've found a place where I can be really settled and call my home."

Odegaard, who also captains Norway and has won 53 caps, has committed to Arsenal until the end of the 2027-28 season.

He has scored three goals in seven games for Arsenal this season - including a fine strike on Wednesday as the club returned to Europe's elite club competition with a 4-0 victory over PSV Eindhoven.

Manager Arteta said: "Martin signing a new long-term contract is such good news for everyone connected with Arsenal.

"He is our captain and a hugely respected person at our club, who is a great role model and professional, bringing quality and maturity in everything he does.

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"As a manager, working with Martin the person and the player is an absolute joy, and it's great that after experiencing a number of clubs already in his career, he is now settled and really feels at home at Arsenal. We all look forward to continuing our journey with Martin in the years to come."

Arsenal's reigning player of the season signed a four-year deal, with the option of an extra 12 months, two years ago following his move from Madrid.

He joined the Spanish giants at the age of 16 from Norwegian club Stromsgodset in 2015, becoming Real's youngest player.

That came after he became Norway's youngest international aged 15 years and 253 days when he played in a friendly against the United Arab Emirates.

Odegaard struggled to settle at the Bernabeu and had loan spells at Dutch clubs Heerenveen and Vitesse, and Spanish side Real Sociedad, before arriving in north London in January 2021.

"My story is a bit different maybe, as I moved around different clubs since I was 16," Odegaard said.

"At Arsenal, since the first day, I've felt great and this is definitely my home now.

"I just want to say thanks to everyone working at the club and of course, our fantastic supporters. I will continue to give everything to bring success to this club in the years to come."

Arsenal sporting director Edu said: "Martin is still only 24 years old, so there's still much more to come from him, and we're delighted that we will be together in the forthcoming years.

"Our aim is to keep our best players, and with Martin now also included, we're pleased to have completed new long-term contracts with a number of our most important young players in recent months."

England forward Bukayo Saka agreed a new deal to stay at Arsenal until 2027 in May, while defender William Saliba, goalkeeper Aaron Ramsdale and midfielder Reiss Nelson are among those to also commit to long-term deals this year.

In the summer, Arsenal bolstered their squad with the £105m signing of England midfielder Declan Rice, the £65m acquisition of Germany midfielder Kai Havertz and a season-long loan deal for Spain goalkeeper David Raya.