Python’s walrus operator (:=) enables you to assign values to variables seamlessly as part of an expression.It helps to streamline constructs like loops, conditionals, and list comprehensions making Python more concise and readable.The walrus operator is helpful in the situation where you want to avoid repetitive function calls or calculations.Regular assignments prevent programming errors by not returning a value, while assignment expressions return the assigned value.Guido van Rossum accepted PEP 572 in July 2018, and the walrus operator was implemented and made available in the first alpha release of Python 3.8.Named expressions, assignment expression operator, and colon equals operator are some of the terms used to refer to the walrus operator.A statement in Python is a unit of code. An expression is a special statement that can be evaluated to some value.PEP 572 details the syntax and usage of the walrus operator, which was written by Chris Angelico in 2018.The walrus operator enables you to write compact and efficient code, especially when working with complex conditions and loops.Emily Morehouse implemented the walrus operator, which is now governed by an elected steering council.