In 1993, a public square and park located in central Castries, Saint Lucia, was named Derek Walcott Square.[61] A documentary film, Poetry Is an Island: Derek Walcott, by filmmaker Ida Does, was produced to honour him and his legacy in 2013.[62]
The Saint Lucia National Trust acquired Walcott's childhood home at 17 Chaussée Road, Castries, in November 2015, renovating it before opening it to the public as Walcott House in January 2016.[63]
In 2019, Arrowsmith Press, in partnership with The Derek Walcott Festival in Port-of-Spain, Trinidad, and the Boston Playwrights' Theatre, began awarding the annual Derek Walcott Prize for Poetry to a full-length book of poems by a living poet who is not a US citizen published in the previous calendar year.[64]
In January 2020, the Sir Arthur Lewis Community College in St. Lucia announced that Walcott's books on Caribbean Literature and poetry have been donated to its Library.[65]