ESPN earlier reported Smith was ready to announce his retirement this week.
"Did you see my year last year?" Smith asked on the Dallas Morning News web site. "Do you think I'm ready to retire?"
Smith will become a free agent in March, He spent the past two seasons with Arizona.
Smith experienced his best campaign with the Cardinals this past year, rushing for 937 yards and scoring nine TDs.
Smith has said that when he does retire it will be as a Dallas Cowboy, where he spent 13 of his 15 NFL seasons.
In his 15-year career, Smith has rushed for 18,355 yards on 4,409 carries with 164 touchdowns.
Swim Week Miami Beach 2014 [PHOTOS]