The campaign, which kicked off in January, encouraged the public to submit entries for a brand new, limited edition flavour.
In July, six finalist flavours were shortlisted by a panel that included chef Marco Pierre White and David Walliams. The finalist flavours were then put up for sale and opened to public vote.
Hotdog with Tomato Ketchup, Ranch Raccoon, Cheesy Beans on Toast, Sizzling Steak Fajita and Chip Shop Chicken Curry were the finalist flavours from 1.2m initial entries.
Paul Rothwell from Essex masterminded the winning entry, bagging a £1m prize.
Walkers brand ambassador Gary Lineker said: "It’s been great seeing the public get behind their favourite flavour."
Walkers said the limited edition flavour would be on sale for the next few weeks.
Last month, Walkers transformed a London bus stop into a tweet-activated vending machine in a bid to publicise the campaign. The vending machine featured a virtual Lineker inside, doling out crisps to passers by.
Earlier this month, McDonald's also tapped into the trend of 'crowd sourced' flavours, launching a TV and digital ad for its 'My Burger' campaign. As part of the activity, the public created five new limited edition burger flavours that are on sale now at selected restaurants.