The Czech Republic international will have been a Gunners players for eight years this summer, and his new deal could potentially see him end his career in North London.
The 33-year-old was expected to leave the club at the end of the campaign, but his impressive form has caused Arsene Wenger to tie down the midfield schemer.
A switch to the MLS was mooted for Rosicky, but the player himself says that he chose to stay at the Emirates Stadium in a bid to win the Premier League title:
“I’m very happy that I’m staying here, I can say that I’m proud that I’m still here after such a long time and that it still continues so I’m glad I’m here.” He told the club’s official website.
“Ever since I came here, I always felt that I’m at the right place where I want to be. I still feel that way now and as I said, I’m proud that after such a long time I’m still here and will continue.
“One big factor is that I want to win the league with Arsenal. It’s my big goal and I will do everything that I can to achieve it. I’ve said many times that I believe that we are strong enough.”
Arsenal are still in with a good chance of claiming this year’s league title, with Wenger’s men just four points adrift of leaders Chelsea.
Rosicky has endured an injury hit time at the club, but has established himself as a key player of late.