Akpom is regarded as one of Arsenal and England's most exciting young talents, and is yet another promising product of the Gunners’ excellent academy.
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The new deal tops off a brilliant week for the Newham-born youngster, who turned 17 this week and scored his first ever goal for the Under-21 side in a 2-0 win over Reading.
"Everyone at Arsenal would like to congratulate Chuba on his first professional contract and we look forward to his continued progression with the club," read a statement on the club's official website.
Akpom, a precociously talented footballer, was selected for the Under-18s when just 15-years old, making 15 appearances for the club at that level.
He has since show further promise at higher levels, scoring twice an appearance in the NextGen Series against Marseille, and featuring in their other two games in the competition.
The 17-year old has represented England at a number of youth levels, and will be hoping to impress Arsene Wenger enough to gain some first team exposure in the future.