Serge Gnabry has ended speculation over his future by signing a new contract through the 2027 season.
After piling up four Bundesliga titles, two German Cups and a Champions League title, Gnabry is looking forward to more trophies.
He said: "I thought a lot about what I want as a player in the coming years, and came to the conclusion that I want to stay at FC Bayern, win everything again here and experience things - in particular celebrating another Champions League title.
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"It's special because I get to play here with my friends at the highest level. It certainly wouldn't feel the same at a different club."
The Germany forward had been linked with a return to the Premier League, with a £34m offer from Chelsea reportedly on the table.
Arsenal had also been linked with a reunion for their former academy product, who left the club in 2015 in search of first-team football.
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After starring in Bayern's sextuple-winning 2019-20 season, Gnabry somewhat lost his way last season.
With his contract set to expire in 2023, Gnabry was also reported to be dissatisfied with his deployment as a wing-back, rather than in his preferred attacking role.
Instead of moving to West London, Gnabry has renewed his contract on improved terms.
SportBild reported in April that Bayern had offered to double Gnabry's wages in order to keep him at the club, but that the ex-Arsenal forward wanted to earn at least as much as fellow Bayern attackers Kingsley Coman and Leroy Sane. Coman and Sane are reported to be on around €19m per year.
It comes perhaps as no surprise that Bayern have made this announcement on the same day that club legend Robert Lewandowski is confirmed to be leaving.
Abendzeitung reports that Bayern coach Julian Nagelsmann plans to use Gnabry as a centre-forward this season.
Ex-Liverpool forward Sadio Mane will reportedly also be deployed in the same role, potentially in tandem with Gnabry.
Gnabry has scored 77 goals and made 39 assists since joining Bayern from Werder Bremen but was inconsistent last season, leading to rumours that he could seek a new club.
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Bayern president Herbert Hainer was delighted to confirm the deal, saying "it's another strong signal that a player like Serge Gnabry sees his future at FC Bayern. He's won everything here and identifies with the club so much that he wants to help write more chapters of club history. When he's on the ball, he's a joy to watch.
"With him, Sadio Mané, Thomas Müller, Kingsley Coman, Leroy Sané and Jamal Musiala, FC Bayern have outstanding options on the flanks which are among the best in European football."
Gnabry has come a long way since his infamous loan spell at West Brom, when then coach Tony Pulis considered him "not at the required level".
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