Cutler, who also has a neck problem, participated fully in practice Friday after seeing limited work Thursday, the Chicago Tribune reported.
His condition was good enough for Smith to jest, "What knee?" when asked about it Friday.
"Jay is good to go," Smith said. "We are hoping he will play the best game he has ever been able to play."
The Tribune quoted an unnamed NFL source as saying Cutler was not as seriously injured as when he suffered an MCL injury during the NFC championship game loss to Green Bay two years ago and had to sit out the second half of the game. The newspaper didn't say which knee is sore this week.