Cody commits: Walker signs new Rabbitohs deal until end of 2022

South Sydney five-eighth Cody Walker has signed a new two-year extension to keep him at the club until the end of 2022.

Negotiations between the Rabbitohs and Walker's management had stalled in recent weeks, opening the door for a potential play at Latrell Mitchell, however both parties have since reached an agreement to extend his time at the club where he made his debut in 2016.

"I’m really happy to have this contract signed. South Sydney is my home and I didn’t want to play for anyone else," Walker said in the Rabbitohs' announcement of the deal.

"There’s really no other option for me. It was my priority to stay here and I’m glad the club and my management were able to come to an agreement before Christmas so we can enjoy this special time of year as a family, then turn our focus back onto getting prepared for next season.

"There are exciting times ahead and I can’t wait to part of it all."

NRL.com understands Walker's deal is worth just shy of $700,000 a year.

The Rabbitohs are still waiting on Gold Coast Titans forward Jai Arrow to make a decision on his future, while there is also still interest in Mitchell if they can fit him into the salary cap.

Souths have close to $1.2 million freed up in the salary cap as a result of the premature retirement of Sam Burgess, however it's likely Mitchell will have to settle for well less than the $1 million-a-season price tag if things are to progress with South Sydney.