Smith (undisclosed) reached an injury settlement with the Cowboys on Monday, Charean Williams of the Fort Worth Star-Telegram reports.
Smith was subsequently removed from the team's injured reserve list and is now able to sign elsewhere.
Smith (undisclosed) was placed on the Cowboys' injured reserve list Wednesday.
Smith's injury remains undisclosed. However, he'll likely receive another chance to earn a roster spot in 2017.
The details of Smith's injury are unclear, but it isn't expected to be serious. His release effectively cleared room for the Cowboys to sign undrafted rookie OL Dan Buchholz.