Smith, a 21-year-old 7-footer, averaged 16.8 points and 10.1 rebounds a game for Colorado State last season. He also led the team in scoring as a sophomore and is a two-time All-Mountain West Conference first-teamer.
"I owe it to myself and my family to assess what my possibilities are related to the draft," Smith said. "I want to collect all of the information that I can and be able to make a good decision.
"I have had a great time at Colorado State, but I'm looking forward to this process. I feel I am prepared and I am excited to go as hard as I can to pursue this opportunity."
Smith could return to Colorado State if he doesn't hire an agent and withdraws from the NBA draft, which is scheduled for June 28, by June 18.