Loftus-Cheek has signed a new five-year contract.
"I'm really happy and pleased that I get to stay here for another five years. It's the place where I've grown up playing and hopefully I'll be playing here for a lot longer," he said.
"At eight or nine years old, of course you never think you'll be here for so long because you just want to enjoy yourself and play with your friends.
"When I look back and see how the hard work has paid off, it's a good feeling. That only makes me want to work harder to achieve more in the future.
"I hope to win a lot more trophies with the team and personally it's just about trying to do as well as I can and work hard to be a key player for Chelsea."