Yes, I lost 50 lbs on a combination of walking and diet. I was overweight but not obese; the first 10 lbs came off pretty quick and then the next 40 took me a year. Walking is sustainable for me in a way that a tougher workout is not, so the weight has stayed off (and comes right back if I stop walking, regardless of diet). Also, the outdoor walks are a great time for me and DH to reconnect.
Treadmill or outdoors work fine -- I do a mix of both -- but IMO you have to do at least 4 mph, more if you can. Obviously, work up to that: I huffed and puffed going around the block when I started. Outdoors, you can "map my run" to figure your time; I find it helps to do a fixed route of known distance, and then try to just go fast without thinking about which route to take this time. On the treadmill I set the speed to 4 mph and vary the incline so it's like I'm doing hills. So on the treadmill I do less distance but burn more calories/hour.
(FWIW, people will tell you that walking your dog is good exercise, but I don't think so. Our dog is pokey and sniffs everything, and can't handle exercise in the heat. Love the dog, but we did a much faster pace before we got her.)
Good luck!