Smith would have become an unrestricted free agent July 1. "Mike has developed into a solid goaltender and has proven to us that he has a bright future in the National Hockey League," Stars GM Doug Armstrong said in a statement. "He has great chemistry with Marty Turco and adds excellent qualities to our organization. We're glad to have him for the next two years."
Smith, 24, is 6-3-0 this season with a 2.16 goals-against average and a .905 save percentage. He became the first goaltender in franchise history to record a shutout in his NHL debut Oct. 21 at Phoenix (22 saves).