The 28-year-old was drafted by the Demons from Casey in the 2017 NAB AFL Rookie Draft as a mature-age recruit, playing 13 AFL games up forward and as an undersized ruckman across his three seasons.
Smith was unable to string together more than three consecutive matches in that time at either AFL or VFL level, finishing his career with a foot injury.
"I'll get to spend a lot more time with my daughter and my soon-to-be wife and really enjoy that aspect of my life. I'm not getting any younger, and I don't feel like my body can get what I want to get out of it," Smith said.
"I don't think my body can handle that demand anymore and I just felt like it was the right decision for myself, and it allows someone else to come in and have the opportunity like I've had."