He was on his second tour of duty in Afghanistan.
Commanding officer Colonel Chris Parsons spoke at Corporal Smith's funeral of a determined man who braved gunfire and ran, "quick as a cat'' to be reunited with his shot comrade.
Corporal Smith, 33, left behind his mother, grandmother and two brothers in Wellington, and his father and grandparents in Tauranga.
His brother Darryl will receive the award tomorrow on behalf of the family.
They declined to comment ahead of the ceremony but will release a brief statement tomorrow.
The Charles Upham Award is made annually to a person deemed to have performed the most outstanding act of heroism at risk to their own life.
Nominations are called from the defence force, police, fire service, Civil Defence and the public.
Lance Corporal Smith is the 24th person to receive the award and the fourth member of the New Zealand Defence Force.
The SAS were deployed in Afghanistan for two-and-a-half years, returning in April.