"No one ever wants to see this day come but we're not focused on that. We're focusing on the last 14 years," the Pittsburgh Tribune-Review quoted Smith's agent, Peter Schaffer, as saying.
"Aaron's got nothing but the highest respect for [the Steelers]. He bleeds black and gold."
Smith played 13 seasons for Pittsburgh, and his 46 sacks put him at No. 10 on the team's all-time sacks list.
Smith's release saved the team his $4.5 million salary for the upcoming season, the newspaper said.