However, he mentioned at this time he does not have any immediate plans.
"I think for now I'll let that office get cleaned up a little bit and then I'll consider that at some point down the line," Smith said.
"I don't know, it's like, I absolutely have an opinion, I'm optimistic, I'm hopeful, I believe in understanding between people and I believe in the possibility of harmony.
In regards to politics he said he will "certainly do my part, whether it remains artistic or,, at some point ventures into the political arena".
Smith also opened up about his personal experience if being a black man living in America mentioning he has been called the N-word multiple times.
"Fortunately for my psyche, I've never been called N-word by a smart person. So I grew up with the impression that racists and racism are stupid and they are easy to get around, I just had to be smarter."
While Smith says he knew racists were "dangerous", he added that he never looked into their eyes, "and saw anything I perceived as intellect".
Which he started to realise once he was older.
"I started seeing the ideas of systemic racism, but at the core of it, I noticed a difference between ignorance and evil."
"Fortunately, ignorance is more prevalent than blatant evil, so I've always been encouraged that the process of education and understanding could alleviate some of the more dangerous and difficult aspects of racism that have unfortunately been embedded in the very fibres of our country."
The sequel to hit action film Bad Boys was one of the last films to hit theatres across the world before the Covid-19 pandemic.
Smith is currently filming King Richard where he will portray Richard Williams, father of Serena and Venus Williams, who raised the tennis legends.
