Theo Walcott and Santi Cazorla have committed to Arsenal by signing new contracts with the club.
Walcott, who is Arsenal's longest-serving first-team player, ends speculation over his future after he had previously been linked with a move to Liverpool.
Cazorla has been the subject of reported interest from Atletico Madrid, but the attacking midfielder has opted against a return to La Liga, with Arsenal announcing both contract extensions via their official website on Friday.
Manager Arsene Wenger is thrilled to have secured the services of two key players.
"We're delighted to have extended the contracts of Santi and Theo. Both are top quality players who are hugely important and influential to our squad," said the Frenchman.
"As well as their huge contributions on the pitch, they both have a great deal of experience and are very popular off the pitch.
"We're very pleased with them both signing contract extensions, as it provides our squad with further stability of quality."
Walcott joined Arsenal from Southampton in 2006 and has gone on to score 76 goals for the club.
The England international made his return from a serious knee injury last season and netted the opener in Arsenal's 4-0 victory over Aston Villa in May's FA Cup final.
There were rumblings that Walcott may reject the chance to stay at the Emirates Stadium in a bid to gain more frequent action as a central striker, but he stated his desire to sign a new deal earlier this month.
Cazorla has made 148 appearances since joining from Malaga in 2012 and was a scorer in the 2014 FA Cup final against Hull City.
The Spain international continued to prove his worth to Arsenal by making 53 appearances last season, more than any other player.
As well as claiming two FA Cup winners medals with Arsenal, Cazorla was part of the Spain side that won the European Championship in 2008 and 2012.
