"I'm looking forward to moving to Wellington later in the year, meeting everyone, and getting stuck into pre-season training."
Hurricanes coach Chris Boyd, in South Africa for his side's semi-final this weekend against the Lions, said Smith would bring a wealth of knowledge and experience.
He noted Smith had almost 100 Super Rugby appearances, 50 matches for the Chiefs and a World Cup tournament to his name.
"That sort of experience is a valuable asset for any team and we're looking forward to his input from next season," Boyd said.
Queensland-born, Smith was raised by New Zealand parents in Hamilton where he attended high school.
He was a member of the Junior World Championship-winning New Zealand Under-20s squad in 2008.
He was picked for the Wallabies' 2015 World Cup squad and made his Test debut off the bench against the United States in Chicago before the tournament.
He will be ineligible for the Wallabies after he moves back to New Zealand.
AAP RLO/SH/AJW
-AAP