Walcott agrees new long term deal
"We are absolutely delighted that Theo has committed his long term future to Arsenal," manager Arsene Wenger, who signed Walcott from Southampton as a 16-year-old, told the Premier League club's website.
"Theo is an intelligent player with amazing ability and speed, and has developed extremely well this season. Theo has huge potential for the forthcoming years and we are all looking forward to see him grow even more in an Arsenal shirt."
Arsenal were knocked out of the Champions League semi-final by Manchester United on Tuesday, ending their hopes of silverware for the fourth consecutive season.