Coach Buzz Williams said Thursday that Smith will graduate in May and play his final season elsewhere. Smith's new college home will be his third. He transferred to Virginia Tech from UNC Wilmington in 2012.
The guard from Jonesboro, Georgia, scored 13.4 points per game during the 2014-15 season.
Smith said in a statement issued by the university that playing for Virginia Tech ''has been a very rewarding experience'' but that another university might more closely align with his goals.
The Hokies were 11-22 overall this past season and finished last in the Atlantic Coast Conference at 2-16.