The Ohio State website Elevenwarriors.com reported on the story initially Monday night, and cited sources who indicated Smith was dismissed for an unspecified "violation of team rules."
The dismissal was confirmed by Cleveland.com's Doug Lesmerises, although Lesmerises did not confirm the reason for the suspension.
Ohio State coach Urban Meyer earlier this season went out of his way to tout Smith's on-field prowess, leading a throng of reporters into the team's video room to show them a block by Smith that Meyer called one of the greatest plays he's ever seen.
The senior had rushed for 101 yards and four touchdowns so far this season on 24 carries when he wasn't backing up starting running back Ezekiel Elliott.
- Will Green