Tomas Rosicky's agent claims the midfielder is close to agreeing a new contract with Arsenal to stay at Emirates Stadium beyond this season.
The Czech Republic international has scored 19 goals in 156 appearances for the Gunners since joining from Borussia Dortmund in 2006, while he missed 18 months through injury.
His current deal expires at the end of the campaign and he had been linked with a move away from the club during the January transfer window.
However, after impressing in recent weeks, Rosicky's representative Pavel Paska has confirmed that an extension is on the brink of being finalised.
"We have moved forward in our talks and neared a final agreement but we still are going to discuss certain things," Paska told CTK.
Meanwhile, Gunners goalkeeper Wojciech Szczesny has praised the contribution of Rosicky after he again caught the eye in the 3-0 win over AC Milan on Tuesday.
Szczesny told the club's official website: "He has been fantastic for the last few weeks now, scored a great goal against Tottenham and was my man of the match in that game.
"He was great again here and hopefully he can keep going because when he plays like that he is a fantastic player.
"He can take people on in the middle of the park too. I think we dominated the midfield in the first half and he made the difference. He is fantastic."