Mesut Ozil reportedly turned down offers from Barcelona, Paris Saint-Germain and Manchester United before agreeing a new deal at Arsenal.
Ozil will earn £350,000-a-week after ending speculation over his future at the Emirates.
The German World Cup winner is approaching the end of his existing deal, which is due to expire at the end of the season.
He has frequently been linked with a move away from the Emirates Stadium but has agreed a three-and-a-half-year extension.
That news emerged following Arsenal's club-record signing of Pierre-Emerick Aubameyang from Borussia Dortmund on transfer deadline day.
But Bild reports that Ozil rejected overtures from three of the world's biggest a club - and an offer from China - before agreeing to extend his stay in London.
Arsenal fans get very emotional after Olivier Giroud posts heartfelt goodbye message
Transfer deadline day was always going to centre on the domino effect triggered by three forwards.
Borussia Dortmund wanted to take Michy Batshuayi on loan from Chelsea, because they were losing Pierre-Emerick Aubameyang to Arsenal, who in turn had to fill Chelsea's striking gap by selling them Olivier Giroud .
And in the end all three moves happened, with all three clubs understandably delighted with their new forwards.
But that doesn't mean there's no room for emotion.
Pierre-Emerick Aubameyang completes club-record move to Arsenal
Arsenal have completed the signing of Pierre-Emerick Aubameyang from Borussia Dortmund.
The striker will sign a three-year deal at the Emirates after making it clear he wanted to leave Borussia Dortmund in a £56m deal.
The 28-year-old was identified by Gunners boss Arsene Wenger as his first-choice replacement for Alexis Sanchez who has joined Manchester United.
Aubameyang leaves Germany under a cloud following a string of disciplinary issues in the Bundesliga.
Dortmund announced his exit on deadline day, with Michy Batshuayi set to replace him.