Jordi Alba has signed a new five-year contract with Barcelona, the Spanish club announced on Thursday.

Alba's new deal will expire on June 30, 2024 while Barca announced his buy-out clause will be set at 500 million euros ($569 million).

"Barcelona and Jordi Alba have reached an agreement to renew his contract for the next five seasons, until June 30, 2024," an official club statement read. "The buyout clause is set at €500M."

Alba has played 282 games and scored 14 goals for Barcelona since joining them from Valencia in 2012.

The 29-year-old has won both La Liga and the Copa del Rey four times each in that time, as well as the Champions League in 2015.

The announcement brings an end to a period of uncertainty surrounding the future of Alba, who had expressed frustration around his negotiations with the club.

"It's the club of my life," Alba said in January.

"I was here for eight years when I was little. I had to leave but I fought to return with my family and to the best club in the world. I want to retire at Barca."