Smith, 24, is a 6-foot-2 point guard and spent last season with the Trail Blazers, appearing in 37 games and averaging 5.6 points and 3.6 assists. The Blazers waived him Feb. 21 and he has been an unrestricted free agent since.
The No. 9 overall pick in the 2017 NBA Draft by the Mavs, he has also spent time with the Knicks and Pistons.
Smith reportedly held a private workout in Las Vegas in early July, with no less than 10 teams attending.
It has not yet been determined if Smith’s deal with the Hornets is fully guaranteed.
Charlotte has been on the lockout for a backup point guard behind LaMelo Ball, having been linked to Isaiah Thomas and Kemba Walker previously. Walker, however, has yet to reach a contract buyout agreement with the Pistons.