The 25-year-old insisted that he is only just hitting his peak and is hoping to win more trophies with the Blues in the future, adding his past years at the club have been special
The 25-year-old joined the west London outfit as a teenager in 2006 for a fee of 16 million pounds, with the club having to pay Manchester United 12 million after the Red Devils had an agreement to sign the midfielder first.
Since then, the Nigerian has gone on to make 261 appearances for the Blues, starting in 213, but has only netted twice.
He was also awarded the Young Player of the Year in his first season, as well as winning honors included four FA Cup medals, one Premier League title and the Champions League last season.
The defensive midfielder labelled Stamford Bridge as his "home", while insisting that he is just hitting his "peak" as he aims to secure more silverware with the club in the coming years.
"Chelsea seems like my home now because I have been here for over six years and I enjoy my time here," he told the club's official website.
"I have basically won everything with Chelsea and those years have been really special for me, winning trophies with big names like Didier Drogba, John Terry and Frank Lampard who have had very long Chelsea careers.
"Last season to win the Champions League was even more special and I hope these next five years will bring even more success and I can win trophies with the new players we have here.
"Being 25 I think I am now hitting my peak but as a player you want to improve every day and there is still room for that. I want to learn from the players and the manager and I just want to keep going."