Arsenal boss Wenger pleased with Walcott deal
The Frenchman hopes Walcott, 23, will now be able to go on and fulfil his potential for the north London club.
"We are all delighted that Theo has signed a new contract. He joined us as a 16-year-old and since then has developed very well to become an extremely important player for both Arsenal and England," Wenger said.
"Theo is a strong player and also a great person, and the combination of his ability and pace always make him such a valuable asset either from the flanks or down the middle.
"Theo's contract extension now gives us a strong nucleus of ambitious young players who have committed to the club and want to be successful with us as a group."