The late Robin Williams famously voiced the Genie in the 1992 classic. Williams, who died at age 63 in 2014, prevented Disney from using his Genie voice in future movies in his will.
The upcoming film is still in the early stages. Smith, 48, who recently appeared in Concussion and Suicide Squad, was previously rumored to join Tim Burton's live-action Dumbo, but plans fell through in February.
The news comes on the heels of Disney's huge box-office success with Beauty and the Beast, which stars Emma Watson and Dan Stevens. The movie raked in more than $1 billion, making it the biggest live-action movie musical ever made.
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