On Day 2, Smith was finally drafted at the end of the fifth round by the Baltimore Ravens. He signed a three-year contract with the Ravens on July 24, 2007. On August 27, 2007 Drew Olson was released by the Baltimore Ravens elevating Smith to the third-string quarterback position. Smith was named second-string quarterback for the Ravens on November 13, 2007, backing up new starter Kyle Boller after a shoulder injury to starter Steve McNair. Ravens head coach Brian Billick maintained that Smith could be used in the future. "That's going to be a fun challenge for Troy, because now he's been around enough", Billick said. "The focus and attention that he brings to is heightened."