Vela has scored eight goals in 38 first-team appearances for Arsenal
Carlos Vela has agreed a new long-term contract to stay with Arsenal.
The 20-year-old Mexican striker joined Arsenal in 2006 and has made nine first-team appearances this season but has scored only once.
Manager Arsene Wenger said: "We are delighted Vela has signed, he is a fantastic talent, we have already seen glimpses of this in his performances."
"I am very happy and excited", added Vela. "I just want to work hard and help this great club win trophies."
Vela has scored seven goals in 38 first-team appearances for the Gunners and has been used more often since the injury to first-choice striker Robin van Persie in November.
He signed for Arsenal after coming through the youth ranks at Guadalajara and has subsequently had loan spells at Celta Vigo, Salamanca and Osasuna.
The left-footed forward is a regular for Mexico and has scored six goals in 19 games to help his country qualify for the 2010 World Cup in South Africa.
"Let's remember, he is still only 20 years-old," added Wenger.
"There is still a huge amount to come from this boy. We have invested a lot of time in Carlos, as we put him in Spain for two years to get some good experience.
"Now he's back with us, we're working hard with him every day and he is a very exciting player.
"We're looking forward to seeing Carlos score many goals in an Arsenal shirt for a long time to come."
Vela is the 11th first-team player to have committed his long-term future to the London club since the end of last season.
Vela, Eduardo, Sanchez Watt, Alex Song, Nicklas Bendtner, Denilson, Robin van Persie, Theo Walcott, Lukasz Fabianski, Aaron Ramsey and Jack Wilshere have all recently signed new long-term extensions with the club.
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