No financial details were announced.
The extension continues a two-decade partnership that began in 2006 when Arsenal moved to the Emirates Stadium.
The renewal comes at a pivotal moment in the club's history following their Premier League title win last season.
The new agreement ensures the continuation of several initiatives, including the Emirates Cup, with Arsenal set to host Borussia Dortmund in this year's edition on Sunday.
"Winning the Premier League is an incredibly proud moment in our club's history and one that belongs to everyone connected with Arsenal," Chief Executive Richard Garlick said in a statement.
"Emirates has been an integral part of this success, standing alongside us throughout this journey and sharing in the defining moments, challenges and successes that have shaped our club over the past two decades."
Arsenal and Emirates, marking 20 years of their partnership in the coming week, will also release a promotional film celebrating key moments in the relationship, featuring former Arsenal and Germany defender Per Mertesacker.