The highly-rated forward has signed a three-year deal to remain at the Suns until the end of the 2029 season after attracting strong interest from interstate clubs.
Essendon had been leading the pursuit for the key forward, with Geelong, Collingwood and Hawthorn among other rivals interested.
Gold Coast had reportedly tabled a five-year, $5 million offer to counter massive interest.
Feeling he's finally found his feet in his third season at AFL level, Suns academy product Walter believed the potential to achieve greatness with his home club outweighed overtures from elsewhere.
He is one of 17 Suns academy products on their AFL list, joined by the likes of Bodhi and Zeke Uwland.
"I've always had discussions. I guess, it's a business at the end of the day," Walter said.
"But I'm a Gold Coast boy. I've played my whole life here, and my friends and family are here as well, so it was pretty easy decision in the end.
"We're building something special up here ... I just want to be a part of that.
"The club's backed me in, so I want to be a key part of that team going forward for success."
In his third season since being drafted with pick No.3 in 2023, Walter has kicked a career-best 23 goals across 12 games as Damien Hardwick's 14th-placed Suns (7-10) struggle to recapture last year's form.
"There's always going to be external noise," Walter said.
"As long as we're a strong, connected group inside the four walls, we all know what we need to do.
"We know the answers and we're sure we can turn around pretty quickly.
"He's (Hardwick) obviously backed me in as a player, a lot of positive stuff, and then we have some good chats as well about what I need to improve on as well. Me and Dim have a really good relationship."
Gold Coast are also aiming to land the signatures of fellow Suns forwards Jamarra Ugle-Hagan and Ben King.
Hardwick has been adamant that 2020 No.1 pick Ugle-Hagan was a "long-termer", while King - set to become a restricted free agent - is also weighing up interest from interstate clubs.
While his re-signing is a show of faith for the Suns, Walter said he won't be playing recruiter with King or Ugle-Hagan.
"Oh, not really. There's always that external noise, but obviously, we just want Ben to play his footy up here and enjoy it within the four walls as well," Walter said.
"He's taken me under his wing. I've learnt so much off him, not just this year, but my first two years as well.
"I've definitely just picked his brain a little bit, and hopefully, try to be the player he is one day.
"Jamarra's putting a lot of work in. He's not playing at the moment, but he knows and we know that he's going to be a really good player for us for a very long time."
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