The England international has strongly been linked with a move away from the Toffees, with reports suggesting that Manchester United and Chelsea are interested in securing a deal for Barkley.
However, the 20-year-old has now committed his future to Everton as his new deal runs down in 2018.
“Ross Barkley has committed his long-term future to Everton by signing a new contract at Goodison Park,” Everton released a statement on their official website.
“The 20-year-old midfielder has put pen-to-paper on a new four-year agreement, meaning he will remain with the Club until at least the end of the 2017/18 season.”
After signing a new deal, Barkley has urged to help the club to become better over the years.
“As soon as I got told about it, I knew I was going to sign. It means everything, signing the new contract. It is a dream to have been playing for Everton all my life and today is a great thing for me,” Barkley told the club’s official website.
“I am settled in at Everton, this is the Club I love. I see it as my home, I never think of anything away from Goodison.”
“Putting pen-to-paper is great and now I want to focus on doing everything right on the pitch and that will hopefully lead to bigger and better things here,” the England midfielder concluded.