The school announced the hiring Tuesday, the second staff addition in two days for new coach Kevin Keatts.
The AP released its Top 100 on Wednesday to combine more than 1,100 polls worth of history dating to January 1949.
Smith averaged 18.1 points, 6.2 assists and 1.9 steals in 32 games for the Wolfpack.
“It’s just a better opportunity for him so you really can’t hate on the guy for trying to make the best of the situation so good for him.”
Keatts comes to Raleigh after three successful years at the helm in Wilmington.
The Wolfpack hired Keatts, 44, to replace Mark Gottfried, who was fired after six years in Raleigh.
The focus for the Wolfpack now becomes finding the next coach.
The championship game is scheduled for Saturday at 9 p.m.
Jackson finished with 24 votes to 15 for Wake Forest’s John Collins.
The Wolfpack (15-15, 4-13) made a last-stand run to get within 59-51.