Schofield, who denies doing anything "illegal" during his relationship, has stepped down from all of his presenting duties and also been dropped by his long-time managers.
Taking to Instagram to comment on the ongoing scandal, Walsh — who received much criticism in 2018 for having a public affair while on Strictly Come Dancing — appeared to sympathise with the former This Morning presenter.
He wrote in a since-expired Story: "It is very surreal watching what is happening with Phillip Schofield right now and knowing what that is like.
"Not many go through it in life. It seems very strange to say I have."
The comedian added: "Whether you think justice is being served or not, let me tell you now, he is f***ed for the rest of his life. You do not ever fully recover from that."
Last week, Schofield publicly addressed his relationship with a younger colleague who he first met when he was 15. He called the relationship, which he said developed romantically at a later date 5 years after meeting, "unwise" but "not illegal".
Schofield also denied accusations of "grooming" and said he was not in a relationship with the man who had appeared on This Morning in background roles.
Watch: Holly Willoughby makes statement on return to This Morning
Schofield's former colleague Holly Willoughby returned to This Morning earlier today and proclaimed to be "let down" by her co-star. She also stated that Schofield had lied to her about the nature of his relationship with his colleague.
In an opening address, Willoughby said: "You, me and all of us at This Morning gave our love and support to someone who was not telling the truth."
Willoughby's statement, which also included a message about moving forward, was criticised by some viewers for appearing "insincere".
Watch below: Seann Walsh expresses regret for Strictly tryst