The hamlet name is a common one in England. It is Anglo Saxon in origin and means Walled Settlement. There is evidence that there has been a settlement in Walton since the Roman occupation of England.
Walton sits on the junction between two major medieval turnpike roads, and was once the location of a toll gate and the toll keeper's cottage. It has also, in its time, been the location of a foundlings hospital and a leper colony.
The stone-built Holy Trinity Chapel in Walton opened in 1845 to provide a local place of worship for the farm labourers who lived in the hamlet. A church hall was later built next door to the church, though this has since been closed.
In the Second World War Walton was the landing site of the only bomb to be dropped on Aylesbury by enemy aircraft. The 15 pound bomb destroyed the medieval High House. The house's garden wall still remains though the property now forms part of Aylesbury High School.
Today the hamlet keeps a strong identity in the town, with the roads of Walton Street, Walton Road, Walton Dene and Walton Green all being in the vicinity of the hamlet, and other landmarks such as the Georgian manor house Walton Lodge and the old village pond still remaining. The hamlet is also the location of Aylesbury's Police Station and Aylesbury Grammar School, as well as the aforementioned High School.