According to Storm CEO Brian Waldron, the decision for Walker to be released from his contract was made after discussions involving Chris, the Club and his Management.
"Chris agreed it was in the interests of both he and the club that he be released from his contract," said Waldron.
"Chris has indicated there are a number of personal and family issues he would like to address over the ensuing months that will require him to be based in Sydney.
"We did not want these issues to become a distraction for the Melbourne Storm for the remainder of the season. We need all involved with the Club to be focussed on the road ahead. Chris has a number of things going on in his life and thought it best he address them now.
"The Melbourne Storm wishes Chris all the best for the future and we trust that the experience of being a part of the Storm has been a worthwhile and rewarding one for him."
Walker is saddened that he will not see out the remainder of his contract and assist the team to have a successful finals campaign, but under the current circumstances he believes the decision made is beneficial to both he and the club.
"I feel it is best for everyone that I address these issues immediately, I believe I can't do that successfully in Melbourne and need to return to Sydney," said Walker.
"However I believe once I have addressed these personal and family issues I can once again focus on my football. At only 25 I believe I have another five years left in me at the top level.
"I would like to thank Craig Bellamy for the opportunity and I wish my team mates, who have been extremely supportive, the very best for the remainder of the season."
"They are a very tight knit group, who are good guys and I would love to see them win the grand final.
"I can say one thing, if they get to the grand final, I will be the first to buy a ticket and support them"