The Australian produced a stunning, bogey-free final round of 64 to finish on 20-under par, , while McIlroy's 70, also devoid of a bogey, left him languishing two shots back in third place.
It meant a top-10 finish in all four Majors for McIlroy this season - the first time he has achieved that in his career.
And Smith said of his rival, whose last win in one of golf's big four dates back to 2014: "He's obviously a great player. He's one of those guys you can't help but stop when he's hitting balls on the range.
"He just keeps knocking on doors every week. He's probably the most consistent player out there. He's going to get a fifth Major, I'm sure, very soon. He's just really solid. I've played with Rory a few times and there's really nothing you can fault."
McIlroy (right, yesterday) had begun the final round on 16-under alongside Viktor Hovland. The Norwegian's game never really ignited, while McIlroy just could not sink the putts when it mattered, as Smith cranked up the pressure with one of the great closing rounds in Open history.
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