With domestic and European rivals believed to be keen to sign the right-back, his team-mate says it would be a "mistake" to let him go
Santi Cazorla has warned Arsenal they risk losing Hector Bellerin to Manchester City or Barcelona if he does not tie him down on a new contract.
The 21-year-old has been with the Gunners since he was 16 and, although he still has three years left on his current contract, Cazorla fears the club could make a huge mistake by not securing his future with a fresh contract.
"It is clear that Hector is the right-back of the future," Cazorla, who himself is out of contract this summer, told the IBTimes UK.
"You could see in the victory over Swansea how good he is. He was all over the place and never stopped running.
“For Arsenal it would be a mistake to let him go. It is obvious that many teams want him. There has been talk about Manchester City and Barcelona.
“He is a player with great potential and I am sure he will also be a key part of the future of the Spanish national team."
As for Cazorla’s own contract situation, the 31-year-old expressed his desire to remain at Arsenal but, after a difficult season with injury last year, will see his contract wind down before thinking about the future.
"In my case I will finish my contract at the end of the season but I'm not thinking about it now,” Cazorla added.
“I'm just focusing on playing and giving my best on the pitch. Last season was very difficult for me after spending so much time on the sidelines. Now I just want to enjoy myself again – and we'll see what happens in the future.
"I'm happy because I'm playing regularly. If I didn't play I would tell you that I would consider leaving, but I'm having minutes and I have the confidence of the manager."Since the very first day at this club I have had the affection of the fans, and that is amazing. I have only words of gratitude to the fans of Arsenal for how they've treated me from day one, and I try to repay them by giving my best on the pitch."