The Rangers initially acquired Smith at last season’s trade deadline, sending a 2017 third-round pick and 2018 second-rounder to the Detroit Red Wings in exchange for the defenceman. The club then inked him long-term last June.
Smith, who turned 29 on Thursday, has struggled all season with the Rangers and has just a goal and seven assists through 44 games in 2017-18.
The news comes amid several reports of the Rangers preparing for big roster changes as they appear to be sellers in the leadup to the Feb. 26 trade deadline.
Thursday has proven to be a busy day on the waiver wire, as Marcus Kruger and Josh Jooris were both placed on waivers by the Carolina Hurricanes.