Smith was born in Alpena, Michigan, to an Air Force family. His family lived in Tehran, Iran, during his last two years of high school and he graduated from Tehran American School. After working for Westinghouse, he joined the United States Army where he served in the 82nd Airborne Division as a paratrooper. He then attended college at Eastern Michigan University, where his athletic talents earned him a spot as a free agent with the Dallas Cowboys in 1985. Smith's football career was cut short by injury and he returned to Eastern Michigan University, where in 1988 he earned a bachelor of science degree in computer aided design.

Smith stumbled upon acting when he accompanied a friend to an audition for the 1989 film A Nightmare on Elm Street 5: The Dream Child. Smith landed the role of Super Freddy. Smith would appear three years later in a small role in Renegade playing PJ Butler. In 1994, he appeared in an unreleased Marvel Comics adaptation of The Fantastic Four as Ben Grimm. Smith was also cast in Cyborg 3: The Recycler alongside Malcolm McDowell.

Smith appeared in many TV series, such as Diagnosis: Murder, Star Trek: Voyager, Wings and Conan the Adventurer. In 1999, Smith had small roles as guards in Donald Petrie's My Favorite Martian and The X-Files. Smith appeared 18 times in the hit TV show Charmed, where he played Belthazor, The Source, Grimlock and Shax. 2002 also saw him appear in the hit sequel Men in Black II, where he portrayed the character Creepy. After 2002, he appeared in the TV series The O.C. and Desperate Housewives. In 2003, Smith was brother Bob (Monster Man) in the hit movie Monster Man.

In 2006, Smith was cast as villain Pluto in the remake of The Hills Have Eyes. In 2007, he played villain Papa Hades in The Hills Have Eyes 2. He also starred in the 2010 horror film Chain Letter, alongside Nikki Reed, and Noah Segan, directed by Deon Taylor.