The German international signed a new deal that will keep him at the Signal Iduna Park until 2019, and also removes a £20m release clause that was due to come into effect at the end of the season.
Manchester United, Liverpool and Arsenal all had hopes of bringing Reus to the Premier League and were willing to offer a substantial pay rise to get the 25-year-old to leave his boyhood club.
Instead, Dortmund have worked with club sponsors Puma and Opel to offer Reus a deal that will see him paid £140,000-a-week, according to reports in Germany.
GETTY
Marco Reus has been handed a bumper new contract at Dortmund
Marco Reus rejected a massive offer from Real Madrid
But Real Madrid were desperate to land Reus and were ready to offer double that amount to take the player to Spain.
Indeed, reports last year suggested that Reus had already started learning Spanish in preparation for the move.
There has already been some speculation that Reus has only signed a new deal to allow Dortmund to command a higher fee for the player in the summer.
But United, Liverpool and Arsenal may all be wary of moving for the star forward - who Dortmund claim they want to define an era at the club - if they know they have to compete with Real on wages.
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