There are two things to keep in mind:
Even if you delete the entire object, python might reserve that memory for further use(instead of allocating memory once again later). The footprint that python leaves in the os won't significantly change.
On Linux and UNIX-based systems processes do not necessarily give back the allocated memory until the application dies.
In order to successfully release the memory you might want to take a look at the garbage collector. With it you can force python to free the allocated memory.