Arsenal's hopes of luring Schalke 04 starlet Julian Draxler to the Emirates have been ended after the 19-year-old signed a new long term deal with the Bundesliga club.

The Gunners had been heavily linked with a move for the highly rated German who has garnered a reputation as one of the most promising young talents in European football.

But a contract extension until 2018, reported by the Bundesliga's official website, confirms Arsene Wenger will have to pursue other options this summer.

The 19-year-old has gone from strength to strength since emerging from the Schalke youth ranks in 2011, and his immediate impact on the Bundesliga piqued the interest of a number of clubs looking secure his services.

Julian Draxler
Draxler's enw deal with keep him at Schalke until 2018. (Reuters)

In addition to reported interest from the Gunners, Borussia Dortmund had been keen to recruit Draxler after the Champions League finalists lost their own prized attacking midfielder Mario Goetze to Bayern Munich.

Horst Heldt, Schalke's outspoken general manager recently insisted that the teenager had no release clause in his contract, and would not be sold for anything less than €100 million, a claim that would have dissuaded most suitors.

In a welcome move from Schalke's perspective, Draxler himself also distanced himself from a move to Jurgen Klopp's side, insisting he would have to be "brainwashed" before he would turn out in the yellow and black of Dortmund.

Draxler's comments combined with his decision to pen an extension that confirms his presence at the Vetlins Arena for the next six years is likely to ensure that the 19-year-old's list of suitors will not be making any more approaches any time soon.

Following the sale of Lewis Holtby to Tottenham Hotspur during the January transfer window, Draxler has impressively filled the void left by his compatriot, scoring 10 goals for his side in his 37 appearances for the club this campaign.

In a unique move, Schalke chose to confirm initial reports of the contract extension by sending a fleet of lorries out across the city with Draxler's picture emblazoned across the side, along with the message, "With pride and passion 2018". Bild also suggest that the club instructed drivers to head towards the Dortmund area.

Already capped four times at international level, Draxler became the youngest ever player to reach 50 appearances in the Bundesliga for any side, having made his debut at the tender age of 17 in January 2011.