Smoltz spent 20 years with the Braves before spending his last season with both the Boston Red Sox and St. Louis Cardinals.
The Braves will officially retire No. 29 during a ceremony on June 8.
Greg Maddux and Tom Glavine, who were Smoltz's teammates during the team's extended run during the 1990s and 2000s, have already had their respective numbers retired.
Smoltz has enjoyed considerable success as both a starter and reliever. He is only the second player in major league history to register 200 wins and 150 saves.