There have been a number of anti-Wenger fan protests, and planes flown overhead carrying "WengerOut" messages, but the season ended on the high of winning the FA Cup for a record 13 time.
Minutes after Arsenal announced the news via their official website, the club's "biggest fan" expressed his opinion on Wenger's new deal.
"This is a strong group of players", he added, "and with some additions we can be even more successful".
'We can move up to the next level, I'm convinced of that, by having faith in the way we want to play football and by supporting the players we have already'. We have the right person for that and I know Arsene is committed to that.
He delivered one Ligue 1 title for Monaco in the 1987/1988 season and three in the Premier League for Arsenal in 1997/98, 2001/02 and 2003/04.
Wenger joined Arsenal in 1996, making him by far the longest-serving current manager in English soccer.
Arsenal chief executive Ivan Gazidis believes "world class" Arsene Wenger remains the club's best possible manager.
Arsenal confirmed the extension after the Frenchman had met with majority owner Stan Kroenke on Tuesday (AEST) before a board meeting on Wednesday.
Arsenal are in danger of dropping down to a mid-table finish next season, according to club legend Tony Adams.
Wenger also thanked owner Stan Kroenke for his support after committing his future to the club until 2019.
While he has been criticised for his transfer business in the past, Wenger has stated he is only looking for "top quality" players to improve the side and Henry said that his former manager's words could mean limited purchases.
The Gunners have not won the league title since they went the whole campaign unbeaten in 2004 and were knocked out of the last-16 of the Champions League for the seventh consecutive season.