The north London side were tipped to lose Ozil to Manchester United earlier this season after talks with the World Cup winner stalled.
Indeed, Arsenal star Ozil entered the January transfer window with six months left to run on his current Gunners contract.
His team-mate Alexis Sanchez completed a swap deal to Manchester United from Arsenal as Henrikh Mkhitaryan moved in the opposite direction.
The Gunners signed Gabon international Pierre-Emerick Aubameyang in a £52m deal from Bundesliga giants Borussia Dortmund on transfer deadline day last month.
Ozil signed a new long-term contract thought to be worth £350,000 a week at the start of February.
Speaking to Arsenal Player about his decision to sign a new deal with the Gunners, Ozil said:
“It feels really good.
“I’m really happy to sign here for such a big club like Arsenal. I’ve always said to the club that i’m happy here and now I’ve signed, I’m really happy.
“My team-mates and family have always supported me. I have a lot of goals here with the team, I want to reach those and I’m really happy.
“I love the city. Before I signed the contract, I spoke with my family about what the best decision was for me. At the end of the day, it was really easy for me to say ‘yes’ to the club. I’m here for more years and I hope we will win some titles with the team. I believe in that.”
Ozil moved to Arsenal in a £42.5m deal from La Liga giants Real Madrid in the 2013 summer transfer window.
The Gunners midfielder has won three FA Cup titles in four seasons at the Emirates Stadium.
Arsenal are in sixth place in the Premier League table following four defeats in his last six top-flight outings.
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