Smith, 27, originally signed on with the Dolphins as an undrafted free agent out of back in 2012. He had brief stints with the Jets and Bills before he was waived at the start of the 2014 season and later claimed by the Buccaneers.
Tampa Bay brought Smith back on a one-year exclusive rights contract last year and he returned to the Bucs on a one-year, original-round tender worth $1.797 million for the 2017 season this past May. However, he was cut loose last week.
He has appeared in one game this season but did not record any statistics.
In 2015, Smith appeared in 12 games for the Buccaneers and recorded 22 tackles, seven sacks, three forced fumbles, three recoveries and a pass defense.