The Frenchman has committed himself to the Club until the summer of 2014 - a major boost as Wenger and his players prepare for their Premier League opener at Liverpool on Sunday.
Chief Executive Ivan Gazidis has spoken to Arsenal TV Online about Wenger's new deal.
Click on the PLAY button in the image above to watch a FREE clip of this interview or read on for the full transcript.
Ivan, how pleased are you to have secured Arsène Wenger's future at Arsenal?
"We are delighted that Arsène has signed a new three-year extension to his current contract that will keep him here for four more seasons. Arsène has defined the modern Arsenal, the progressive style of play that we play. The exciting ball movement and technical players that we have are renowned all around the world, and that is one person's vision - Arsène Wenger brought this to the Club. He is still pushing boundaries and we are looking forward to what he can produce over the next four years."
How pivotal is Arsène to that overall vision for this Club?
"Modern-day Arsenal really is a reflection of Arsène Wenger's vision and as we look at the way the football world is developing and the way the Club is developing, I think that responsible style of management, his vision of progressive, attacking football is the way football is heading. I think we are very well placed as we look forward over the next four years of his tenure to be at the centre of those developments in football and very well placed to take the Club on to new levels."
Arsène said earlier this year that he would open talks about a new contract in the autumn so this is a very pleasant surprise. How important was it to get this deal done before the start of the season?
"It wasn't critical for us to get it done before the start of the season. But as I have said before, it has always been our objective to extend Arsène’s contract, and we have been relaxed about the timing of it. But I do think that it is terrific that it is done before the beginning of the season. I think it is a great message to our supporters. It’s also a great message to the players and it gives us real impetus going into the start of the season."
Arsène has been here for 14 years of course. Do you sense that his desire is still as strong?
"The desire is probably stronger than it has ever been. Arsène is a deeply driven, ambitious individual who is always looking ahead, always looking to what more can be achieved and I know, having spent a lot of time with him over the last 18 months, that it is impossible to imagine a more ambitious or driven person."
Two doubles, an unbeaten title season, four FA Cups - Arsène has achieved so much already. What do you think are his key targets now?
"Well, the Club has not won a trophy in a number of years and the last few years have been a challenge. We have gone through a significant change as a Club as we have moved from our old stadium at Highbury to the new Emirates Stadium. During that period of time, Arsène has come up with a strategy, which was necessary in the changing football environment where other clubs were spending enormous amounts of money, to develop and grow a talent pool rather than to buy it. That has been the nature of the project over the last four or five years and nevertheless the Club has been competing at the highest level of football during that time and has come close a couple of times.
“I know that Arsène shares the frustration of the fans that we haven’t quite got over the line but we do have a very talent young group of players. They are no longer using youth as an excuse, they are now a young group of players who has experience and we believe they are equipped to take the Club over the line. We got very close last year before we had some crippling injuries at the end of the season, which just meant that we ran out of steam. But as we look forward over the next three or four years this is a team which is just going to get better and better, so we are very optimistic."
And because Arsène has signed that new deal he must feel the conditions are in place for him to achieve those targets?
"I think he feels we have a team which is improving every year. The financial position of the Club is strong and healthy, and as we look forward we also think the world of football is moving towards a more responsible model. We see the UEFA financial fair play initiatives coming in which really reflect the way which Arsenal is already run.
“I think that is a sensible way to run the Club; it ensures not just short-term objectives can be met, but it also means the Club will be successful over the long-term and as those changes permeate through the world over the next couple of years, we will be much better placed. We have a young improving squad and also the ability to spend money where necessary and sensibly to supplement that squad."
The new season is here, what can Arsène and Arsenal achieve this year?
"Our objectives are to win trophies this year, major trophies and obviously the Premier League is foremost among those. That is the objective, it’s as simple as that."
Finally Ivan, the transfer window closes in less than three weeks, do you envisage the manager strengthening the squad before then?
"As you know, we always try to conduct our business very privately. As Arsène said at the beginning of the window, the business was likely to get done at the beginning or at the end of the window. We secured Marouane Chamakh and Laurent Koscielny early. There may be some more business that happens late if we can find players that add quality and will supplement the squad."