Smith likely will start Sunday's game against New England.
Smith missed the first 14 games of the season because of a groin injury. He was placed on IR on Oct. 25, with the designation to return. He returned to practice a couple of weeks ago and was cleared to play this week.
Smith has started 122 games since being selected in the second round of the 2004 draft. He owns the franchise record for tackles with 1,084, including 100-plus tackles in seven straight seasons.
Lowery's absence means second-year player Chris Prosinski moves back into the starting lineup. Prosinski started in place of Lowery earlier in the season.