Koscielny reveals Barcelona interest
The 26-year-old was one of the Gunners' stand-out performers last season, having arrived from French side Lorient in 2010
His displays caught the eye of the Blaugrana, who are eager to strengthen their defence this summer.
However, Koscielny wants to remain at Emirates Stadium in order to further his game under manager Arsene Wenger.
"I am so happy to have signed a new contract until 2017, it means a lot, notably that the club has a lot of trust in me," he told L'Equipe. "In 2017, I will be almost old."
When asked if he was aware of the interest from Barcelona, the defender added: "Yes of course and frankly it is flattering.
"But at Arsenal I have everything; I have a great training centre, a wonderful stadium and an amazing group.
"I really want to grow here as Thierry Henry, Patrick Vieira and some others did."