Smith, a 6-8 sophomore last season, averaged 4.4 points in 18.7 minutes this past season, which was down from 6.3 points and 25.4 minutes his freshman campaign when he helped the Huskies win the national championship.
Smith is one of five UConn players to leave the Huskies in light of the 2013 postseason ban implemented by the NCAA.
The departure of Alex Oriakhi, who transferred to Missouri, prompted the UConn coaching staff to suggest Smith would move from small forward to power forward - a switch Smith apparently did not view favorably.
Expectations will be high at UNLV next season after Anthony Bennett, a top 10 rated recruit committed to the Rebels on Saturday. Bennett, a 6-7, 240-pound forward, is the highest rated prospect to pick UNLV since Larry Johnson. Bennett chose UNLV over Oregon, Florida and Kentucky.