The England international met his new Gunners team-mate on Monday as the 19-year-old penned a long-term Arsenal deal, completing a £16m switch from Southampton.
Chambers follows in the footsteps of Walcott after the 25-year-old forward joined the north London club from the Saints in 2006.
And Walcott was quick to take to his Instagram page to welcome the defender, who can play at centre-half or full-back, to the Gunners.
Walcott said: “Great to meet @chambers1995 and looking forward to working with him. #afc #coyg”
Chambers, who made 23 Premier League appearances last season, praised Walcott in his first interview with new club Arsenal.
“The manager has a fantastic history of bringing young players through and nurturing them – and especially from Southampton, as you have seen with Alex Oxlade-Chamberlain and Theo Walcott!” Chambers told Arsenal’s website.
“I would just like to have the opportunity to follow in their path and be as successful as them.”
Chambers added: “Massive. Even from a young age in the academy, everyone looked up to them and everyone wanted to do what they are doing.”
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