The 111-Test veteran, who made his debut for the Wallabies 18 years ago, is off contract at Ballymore and preparing to start a game for the first time this season after back surgery in December.

While happy with how he's felt in two cameos since returning, the 37-year-old will give himself more time before seeking another contract.

"Nothing's concrete because the injury I've had is quite a serious one," he said.

"I've come back and felt really good in the past two games and I'll assess it in the next few.

"I'm not in a desperate position to sign a new contract with anyone ... it's about getting back, playing well and then assess things after."

Smith's list of achievements includes four straight Australian Super 14 player of the year gongs and two John Eales Medals.

He has spent time in France, England and Japan in between a decade at the Brumbies and his most recent Reds posting.

"I have thought about retirement. You tend to do that when you hit your 30s. It's a natural thing but I want to see how I go now," he said.

If Saturday's return was anything to go by, the odds of him playing on are pretty good.

The flanker had only 40 minutes of club rugby under his belt when injected against the Chiefs but his presence helped the hosts rally from 0-31 to eventually lose 36-12.

He will start against the Lions at Suncorp Stadium on Saturday as the Reds look to avoid a fifth-straight loss.

"I feel really good actually. I've worked extremely hard in pre-season and in the rehabilitation period," he said.

"I felt really good last week in terms of fitness and conditioning ... I'm feeling ready to go."

Australian Associated Press