Bayern Munich have signed former Arsenal midfielder Serge Gnabry from Werder Bremen on a three-year contract, the German champions said on Sunday.

The 21-year-old scored 11 league goals for Werder last season and was also the joint top scorer at the 2016 Rio Olympics, where Germany were silver medallists.

"We're pleased that in Serge Gnabry another young German international is coming to FC Bayern. Serge has developed a lot at Bremen," Bayern CEO Karl-Heinz Rummenigge said in a statement.

Gnabry will join the Bundesliga champions on July 1, boosting manager Carlo Ancelotti's options on the wings alongside Arjen Robben, Kingsley Coman, Douglas Costa and Franck Ribery.

"It's a great honour to become part of FC Bayern. It’s going to be an exciting time and one that I’m very much looking forward to," said Gnabry.

Gnabry moved to Werder at the start of the last campaign after failing to secure regular football at Arsenal. He spent the 2015-16 season at West Bromwich Albion on loan from the North London club.