Walcott, 26, is Arsenal’s longest-serving current player, making his 300th appearance for the club last season. He has scored a total of 76 goals since joining the Gunners in 2006.
Theo finished last season in outstanding form. The England forward netted a first-half hat-trick against West Bromwich Albion in the final Premier League match of the season, before scoring the opener in the FA Cup final victory over Aston Villa the following week.
As well as their huge contributions on the pitch, they both have a great deal of experience and are very popular off the pitchWenger on Cazorla and Walcott
Cazorla, 30, enjoyed another excellent year for Arsenal in 2014/15. Playing in a deeper midfield role for the Gunners, he made 53 appearances in all – more than any other player.
In total, the gifted Spaniard has featured 148 times for Arsenal since his arrival from Malaga in 2012. His tally of 27 goals includes many important strikes, most notably in the 2014 FA Cup Final victory over Hull City.
An experienced international, Cazorla has won more than 70 caps for his country and was part of the squad that won the European Championship in 2008 and 2012.
Arsène Wenger said: “We’re delighted to have extended the contracts of Santi and Theo. Both are top quality players who are hugely important and influential to our squad.
"As well as their huge contributions on the pitch, they both have a great deal of experience and are very popular off the pitch. We’re very pleased with them both signing contract extensions, as it provides our squad with further stability of quality.”
Everyone at the club is looking forward to the continued contributions of Santi and Theo in the seasons ahead.Copyright 2016 The Arsenal Football Club plc. Permission to use quotations from this article is granted subject to appropriate credit being given to www.arsenal.com as the source