In June 1944, he returned to the Pacific theater. That September, he landed with the Marine force on Peleliu as Regimental Executive Officer, 5th Marines. On the first day of the battle, he was again ordered to take command of 3rd Battalion, 5th Marines after the battalion's commanding officer and executive officer became casualties. After nightfall on the first day of the battle, three of the battalion's companies had failed to make contact with the command post and their exact whereabouts were unknown. At great risk to himself, Lieutenant Colonel Walt ventured out into enemy-infested territory in the dark of night, accompanied by one Marine, and proceeded to locate the missing companies and direct them to their correct position along the divisional line. For these actions, Lieutenant Colonel Walt was awarded his second Navy Cross for gallantry in action.