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Arsenal forward Theo Walcott has signed a new four-year deal with the club worth £140,000 a week.

The 26-year-old has scored 50 league goals in 208 appearances since signing from Southampton in 2006

Spain midfielder Santi Cazorla, 30, has also signed a new deal, extending his terms for another two years.

"Both are top-quality players who are hugely important and influential to our squad," said manager Arsene Wenger.

"As well as their huge contributions on the pitch, they both have a great deal of experience and are very popular off the pitch."

Walcott, whose previous contract was due to expire at the end of the 2015-16 season, had been linked with a move away from the London club.

The England international opened talks over a contract extension in November 2014, with Liverpool and Chelsea reportedly willing to offer him the central striking role that he has struggled to secure at times at the Emirates Stadium.

However, an impressive end to last season - including a first-half hat-trick in the 4-1 win over West Brom and the opening goal in the FA Cup final win over Aston Villa - helped strengthen his claim to lead the line for the Gunners.

Walcott is the longest-serving player in Arsenal's squad.

Meanwhile, two of the club's youngsters have left the club on loan.

The 20-year-old defender Isaac Hayden has joined Championship side Hull for the season, while midfielder Dan Crowley, 17, has gone to League One side Barnsley until January.