Linemate Shawn Horcoff chipped in with a goal and two assists.
Michael Cammalleri, Patrick O'Sullivan and Brian Willsie replied for the Kings.
Edmonton improves to 24-22-4, while the Kings (17-29-6) have now lost seven of their last eight contests, slipping to last place in the Western Conference.
In a strong outing, backup Jussi Markkanen captured the win for the Oilers, stopping 32 shots and making a rare start in the Edmonton net. Sean Burke made 27 saves, taking the loss for L.A.
The Oilers got to Burke just 2:48 into the first period as Horcoff passed the puck back to a trailing Smyth, who picked the corner for his 24th of the season.
Los Angeles was able to tie it before heading to the dressing rooms as Cammalleri's point shot with just 28 seconds left eluded a screened Markkanen, making it 1-1 after the first.
It didn't take the Oilers long to reclaim the advantage as their top line combined for a beauty goal just 49 seconds into the middle frame. Smyth made a no-look pass from behind the net to Horcoff, who tipped it to a waiting Hemsky to go up 2-1.
Los Angeles was able to knot the match 11 minutes in on the power play as Lubomir's initial shot hit a post, was kept out by defenceman Matt Greene, then picked up by O'Sullivan, who lifted it up to even the game at 2-2.
The Kings then took the lead a couple minutes later when Greene coughed up the puck to Willsie at the L.A. blue-line. The Kings came in on a 3-on-1 with Willsie electing to shoot it himself, picking the corner, glove-side on Markkanen.
Los Angeles out shot Edmonton 16-5 in the second.
The Oilers were able to get off to another good start in the third, tying the game 1:07 in as Smyth took a shot which caught Burke up high and the big rebound went to Horcoff, who slid the puck in to make it 3-3.
Edmonton regained its lead for good just shy of eight minutes in the third when Steve Staios' point shot hit Burke and then caromed off a charging Smyth and into the Kings' net.
The Kings wrap up their three game road trip in Calgary on Tuesday. Edmonton concludes a five game home stand on Wednesday when they welcome the Columbus Blue Jackets.
NOTES: Both teams were playing in back-to-back games and had better records in their second games this season. Going into the match the Kings had a 2-5-2 record in the first tilt but were 4-4-0 in the second. Edmonton is 1-6-2 in the first game of a double dip and only marginally better in game two at 2-5-1 ... Oilers defenceman Steve Staios made his return to the Edmonton lineup after missing several games with a knee injury ... Sean Burke made his third start in net for the LA Kings after being picked up on re-entry waivers earlier in the month. He captured his first win on Friday in Vancouver after leaving due to dehydration early in the third in his first start with the Kings on Jan. 20.