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To wade off future offers, Arsenal have tied the Spain international to a new six-year contract worth £100,000 per week.
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Bellerin who was voted the best right-back in the Premier League has attracted the interest of his former club, Barcelona and Manchester City.
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The 21-year-old was chased by City in the summer although Arsenal did not entertain any offers.
The deal makes the defender one of the top earners of the club along with the likes of Theo Walcott, Alexis Sanchez and Mesut Ozil.
Arsenal are now looking to tie Sanchez and Ozil to new contracts.
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ALSO READ: Bellerin wants to stay at Arsenal
Ozil has stated that his decision to extend his rests on the future of Arsene Wenger at the club.
He is, however, close to agreeing on a new five-year deal worth close to £200,000 per week.
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