Leeds born Walton rejected a loan move last November to Crewe and decided to fight for his place at Home Park.
Walton told the official Crewe website "I do have a lot of experience behind me, I've played almost 100 games in the Championships and I'm still only 21. I'm still learning, a good player never stops learning, and I put 100% into every game I play, but I've had a tough few months football wise, so I'm just glad of the chance to come out and get some regular football.
Walton added "As soon as I got the phone call to let me know of the interest I was pretty keen to get it done to be honest. I'm just grateful to be given the chance to get out and do what I love doing best.
"I've known a few lads who have played here before, and they have spoken very highly of the place and obviously there is the reputation of the club itself, I really just can't wait to get started. I've not played any competitive games yet this season, but I'm eager to get going and ready to get stuck in straight away."