Oriol Busquets signs a three-year deal with Barcelona
The 16-year-old has signed a new three-year deal with Barcelona, according to Spanish newspaper Sport.
The publication refers to Busquets as "one of the great promises of European football".
And Arsenal and Manchester United had reportedly made contact with the midfielder regarding a move this summer.
Arsene Wenger has previously snapped up Cesc Fabregas, Hector Bellerin and Jon Toral from Barcelona's academy and splashed £35million on Alexis Sanchez last summer.
Manchester United signed Gerard Pique from the Barca academy in 2004.
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Busquets is no relation of first-team star Sergio Busquets.
Arsenal defender Bellerin - who joined from Barcelona in 2011 - recently admitted it was positive that Arsenal grew their own talent rather than signed the best from Europe.
"The fans rate that Arsenal don’t just buy players, they make them the players they are,” he said. “Arsenal fans are really proud of that and I think that’s a great thing.
"When players like Francis, Jack [Wilshere] or myself come up, the fans should be proud that their team is doing what they’re doing. That’s a great thing Arsenal do.”