Crewe boss Steve Davis has revealed that Aneke will be available for the club's FA Cup tie against Wycombe Wanderers on Saturday.
"He is an Arsenal player and they have always been extremely helpful to us. The letter and loan extension has come through so that is great news for us going forward," Davis told Crewe's official website.
"They have granted him permission and we are delighted to have him for an extended period as well. There is more to come from Chuks, I am certain of that. We haven't seen the best of him yet but he always works hard to learn and improve as a player.
"He has shown signs of that improvement in recent week and adds that extra bit of creativity to our play. He fits in nicely to the way we like to play."
Aneke has scored two goals in 16 appearances for Crewe this season.