Arsenal are ready to sit down and offer Alexis Sanchez a new long-term contract, sources have told ESPN FC.
Sanchez, 26, enjoyed an impressive debut campaign with the Gunners last season, helping them win the FA Cup following his big-money arrival from Barcelona.
The Chile international has established himself as one of Arsene Wenger's key players and the club are keen to reward him for the impact he has made with a new contract.
Sanchez's current deal expires in 2018, but Arsenal are ready to offer him improved terms as they do not want their top stars entering the final two years of their contracts.
The Gunners are so determined to keep the forward in North London that they are prepared to make him the highest-paid player at the club.
Talks are expected to take place between Arsenal and Sanchez's advisers before Christmas as they look to tie him to a new deal as soon as possible.
After a slow start to the season following a summer in which he helped Chile win the Copa America, Sanchez has been back to his best in recent weeks -- he followed up his hat trick against Leicester with a goal against Olympiakos and a brace in the 3-0 win against Manchester United earlier this month.