The England midfielder said: "There's nowhere else I'd rather be than Chelsea. I'm right where I want to be. I supported the club as a boy and now here I am playing for them. So I am living the dream.
"I've got the chance to chase the biggest prizes in the game and I want to make the most of it by winning as many trophies as I possibly can.
"The added bonus is I am at home in London with my family and friends."