The Gunners, Manchester City, Chelsea, Liverpool and Tottenham were all suggested to be chasing the England youth international after his history-making breakthrough season at the Craven Cottage.
Fulham are flying high in the Championship this season. Sessegnon has assisted the West Londoners to within two points of a play-off place with five games to go.
Sessegnon proposed move to The Emirates would have come at no surprise to Arsenal fans. Arsene Wenger has a track record of buying and developing youth.
However, the starlet who has scored six goals from left-wing, including becoming the first player born in the 21st century to score in the football league is expected to remain at the club.
The new deal will be the player’s first professional contract, having spent this season on a scholarship deal.