The 31-year-old signed for the Bucks back in 2019 - and after being instilled as club captain he went on to make 75 appearances for the club.
However - in recent weeks his game time has become reduced under boss Paul Carden and the club has now confirmed that Walker has left by mutual consent.
In a statement the club said: "Everyone at AFC Telford United would like to thank Adam for all his efforts at the club and the role he has played both on the field and off the field as club captain.
"We would like to wish ‘Walks’ all the best for the rest of the season."
The midfielder is expected to join a new club in the coming days.
Walker was a product of the Coventry City youth system - but after making just two appearances for the Sky Blues he went on to have a successful career in non-league.
He made over 100 appearances for both Nuneaton Town and Brackley Town - as well as a short stint with Solihull Moors before joining the Bucks under former manager Gavin Cowan.
And he insisted back in the summer that he had unfinished business this season, stating: "The unfinished business is that I do believe the squad we had – and continue with and hopefully increase with a different calibre of players – we can push on and get where we want to be."