Midfielder Cazorla was voted Arsenal Player of the Season last term, and with 49 appearances, featured more than any other Gunners player in 2012/13.
Ramsey has also enjoyed an outstanding season, contributing 13 goals from midfield in 27 appearances despite sustaining a thigh injury in December.
Teenager Zelalem is a Germany youth international who played in all four games of the pre-season Asia Tour and against Galatasaray in the Emirates Cup before making his competitive first-team debut on in Arsenal's 4-0 victory over Coventry City in the FA Cup fourth round.
Boss Arsène Wenger told the clubs official website: “We are very pleased that Santi Cazorla, Aaron Ramsey and Gedion Zelalem have committed their futures to the Club.
“Cazorla and Ramsey are absolutely key players for us, and this news is a boost to the whole club. Gedion is very young of course, but he has shown already that he has fantastic promise, and we all look forward to his development with us."
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