Aaron Ramsey, Carl Jenkinson and Kieran Gibbs also join the pair in signing new deals with the north London outfit, while manager Arsene Wenger declared himself "delighted"
The three Gunners have all committed their futures to the north London club by signing new deals, as Goal.com revealed on Monday, with Kieran Gibbs and Carl Jenkinson the other two players who have joined in agreeing extensions.
Manager Arsene Wenger declared that the extensions are part of his long-term plan to build a team around a core of young, British players, insisting that stability now will help them in the future.
“We are delighted that these five young players have all signed new long-term contracts," he told the club's official website.
"The plan is to build a team around a strong basis of young players, in order to get them to develop their talent at the club.
"Jack is certainly the best known, the leader of this group - but the other four players are exceptional footballers, and we’re very happy that we could conclude their new deals at the same time.
|12/1||Arsene Wenger is 12/1 with William Hill to be the next Premier League boss to lose his job
“Gibbs, Jenkinson, Oxlade-Chamberlain, Ramsey and Wilshere represent a core of the squad and it’s an extension for a long period for all of them.
"I’m a strong believer in stability and I believe when you have a core of British players, it’s always easier to keep them together and that’s what we’ll try to achieve going forward.”
All five of the players to agree new contracts have represent their respective countries at international level. Ramsey, 21, captains Wales and has made 24 appearances for the national team, while the other four have all won senior caps for England.
Wilshere, 20, and Oxlade-Chamberlain, 19, are well-established members of Roy Hodgson's Three Lions' squad, while 23-year-old Gibbs has made two appearances and 20-year-old Jenkinson made his debut in the friendly against Sweden in November.
Wenger will be hoping that he can secure the continued services of one other young English international, however, with contract-rebel Theo Walcott's future still in the balance.