Walker, 23, has appeared in seven games for the Capitals this season, posting one goal and four penalty minutes.
The Cardiff, Wales native has accumulated 79 points (34G, 45A) and 144 penalty minutes in 202 career AHL games.
The 5'9", 186-pound forward was drafted by the Washington Capitals in the 3rd round, 89th overall in the 2014 NHL Draft.
The Oilers have also placed forward Iiro Pakarinen on waivers for the purpose of assignment.
