Odegaard joined Arsenal from Real Madrid in a £30million deal.
The Norwegian captain has joined the Gunners on a permanent deal after spending six months on loan at Arsenal last season.
The midfielder has now settled at Arsenal and wants to further develop his career at the club.
Since his permanent move to the Emirates, Odegaard has started four games for the Gunner scoring one goal and assisting on another.
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Odegaard told Stadium Astro: “I liked the project, the coach, the club. I want to be part of the team, rebuilding this club and bringing it back to the top.
“It is very important that young players get stability and continuity, I have been looking for it a lot in the last two years.”
“I have signed a long contract and I hope to stay for many years. It is fantastic to have a stable relationship with your own club.”