Forest fans idolised the veteran defender who started as an apprentice on Trentside and will be remembered for the song "You'll never beat Des Walker" because of his pace and positioning skills.
Neutral fans will unfortunately remember him for two own goals - one in the 1991 FA Cup Final in extra time against Tottenham and the winning goal in Forest's 4-3 defeat to Sheffield United in the playoff semi-finals at Bramall Lane in 2003.
Des will remain at the City Ground in a coaching capacity for the next twelve months helping to develop young defenders such as Michael Dawson and Wes Morgan.
Meanwhile, Forest midfielder Eion Jess has signed a new contract until next summer, similar to the deal Andy Impey signed earlier this week.
The 33-year-old has figured throughout Joe Kinnear's reign and is relishing the chance to shine next season in Division One.
He told the official Nottingham Forest website: "Our finish to the season was superb and with the manager looking to bring new players in we are all optimistic about what we can achieve next season."
The former Scottish international signed on a free transfer from Bradford in 2002.