Arsenal have clinched a new deal with Marcelo Flores by triggering a two-year extension in his contract.
Flores' deal was due to expire this summer, which had attracted interest from clubs around Europe.
Within the 19-year-old's contract, however, there was an option to extend it until 2025 and Arsenal have triggered that clause.
The Gunners utilised a similar option in Charlie Patino's contract earlier this season, with the 19-year-old another highly-rated youngster at the club.
Mexico international Flores is currently out on loan at Spanish second division side Real Oviedo, where he has made 15 appearances so far this season.