General Manager Football Operations told goldcoastfc.com.au that Smith was in high spirits following the operation.
"We have received a positive report from the surgeon and on the back of that Zac is in a pretty good space."
Ashcroft said Smith has been given a few weeks off, before returning to the club to commence what will be an extensive rehabilitation process.
"Zac will spend some time away from the club with family and friends before getting stuck into his rehabilitation here at the club."
"Prior to his surgery Zac sat down with our high performance and medical staff who detailed the surgery and rehabilitation, ensuring Zac, his management and family were well informed of the process."
Smith became the 15th AFL player to suffer a season-ending knee injury this season.
