Lacazette has signed a three-year contract extension with the French club until June 2025.
Alexandre Lacazette has re-signed for Lyon on a free transfer, five years after joining Arsenal for a then-club-record £46.5 million.
In 158 Premier League games for Arsenal, the France attacker scored 54 goals and helped the Gunners win the FA Cup final in 2020.
Lacazette told Canal Plus in April that he "never broke communication" with his hometown club Lyon.
Lyon stated they were "extremely proud and very thrilled" to announce Lacazette's return to the club he joined when he was 12 years old, and that a deal had been "the club's goal for several months."
Lacazette, 31, came up through Lyon's youth squads and scored 129 goals. After breaking into the main squad in the 2009-10 season, Lacazette, 31, climbed through Lyon's development systems and scored 129 goals in 275 games in all competitions.
Arsene Wenger signed him in 2017, with the fee – up to £52.6 million with add-ons – exceeding the £42.4 million Arsenal paid Real Madrid for Mesut Ozil in 2013.
When Alexandre Lacazette joined Arsenal in 2017, Arsene Wenger was the manager.
With Lacazette's contract set to expire at the end of June, Arsenal manager Mikel Arteta said in April that postponing negotiations with the player about a new contract was a risk.
"It's the arrangement we reached with him." That was and continues to be our viewpoint — that is what we believe. "The possibility of it happening has always existed since the time we took that choice; now it is up to him."
After Arteta stripped Pierre-Emerick Aubameyang of the armband for a disciplinary infraction in December, Lacazette took over as captain of Arsenal. Aubameyang has since joined Barcelona.
Arsenal has not played in the Champions League since 2016-17, and after placing fifth in the Premier League, will compete in the Europa League group stage in 2022-23.
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