Emirates Stadium star was watched by Barcelona, Inter and PSG.
Aaron Ramsey earned his new contact at Arsenal after Barcelona, Inter Milan and Paris Saint-Germain all sent scouts to watch the Welshman in action, according to the Daily Mail.
The Welshman is expected to sign a new deal worth £100,000-a-week shortly which will make him the second best paid player at the club behind record-signing Mesut Ozil.
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Ramsey’s deal comes after a blistering start to the season, in which he scored 10 goals and notched up seven assists in his first 22 matches.
The 23-year-old’s form was so good, scouts from La Liga, the Serie A and Ligue 1 have all reportedly run the rule over Ramsey.
The Wales international has not played since the Boxing Day win over West Ham after picking up a an ankle injury but is targeting a returning against Tottenham in a week on Sunday.