Walton was brought in by head coach Jeff Fisher last February but he saw his unit give up 364 points last season, the 13th highest in the NFL. Against the pass the defense ranked 19th, while it was ninth against the run.
In a short statement, Fisher told reporters: "I would like to thank Tim for his hard work and contributions to our defense this past season. I wish him well in the future."
The standout star on Walton's defense was Robert Quinn, who had 19 sacks to his name during the regular season. However, despite some positives, the team have decided to axe Walton and re-hire former coach Gregg Williams to replace him.