The club have also been regularly scouting other English teenage talent this season, notably Raheem Stirling, Wilfried Zaha and Luke Shaw.
"We are delighted that these five young players have all signed new long-term contract," said Wenger. "The plan is to build a team around a strong basis of young players, in order to get them to develop their talent at the club. Jack is certainly the best known, the leader of this group – but the other four players are exceptional footballers, and we're very happy that we could conclude their new deals at the same time."
"Gibbs, Jenkinson, Oxlade-Chamberlain, Ramsey and Wilshere represent a core of the squad and it's an extension for a long period for all of them.
"I'm a strong believer in stability and I believe when you have a core of British players, it's always easier to keep them together and that's what we'll try to achieve."
Arsenal, meanwhile, also confirmed on Wednesday that their scheduled Boxing Day fixture against West Ham United has been postponed until either Jan 23 or Jan 26 due to the Tube drivers' strike on the London Underground.
One benefit for Arsenal is that they will now have a full week between their match against Wigan this Saturday and the home fixture with Newcastle on Dec 29.
"The paramount concern was always the duty of care towards the Arsenal supporters, West Ham United supporters, matchday employees and workers," said a club spokesman. Home fixtures for Fulham and QPR on Boxing Day will still go ahead.
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