Monreal has secured his future with Arsenal after moving ahead of Kieran Gibbs as manager Arsene Wenger’s first choice at left-back.
The Spanish international’s current contract was set to expire in 2017, but Wenger is keen to see the 29-year-old essentially finish his career at the Emirates.
The Gunners have not been particularly active in the transfer window, but they have been efficient at locking up their key players to long-term contracts.
Striker Theo Walcott signed a new four-year contract, and it appears that Monreal will be the Gunners long-term as well.
However, Arsenal are still hoping to make one more splash signing as they have been pursuing Real Madrid striker Karim Benzema and Paris Saint-Germain striker Edinson Cavani.
It is understood that Monreal’s new deal could be signed this week.