Smith was among nine players who were traded inside the frantic last 10 minutes of negotiations at Marvel Stadium, before Wednesday's 7.30pm (AEDT) deadline.
Bulldogs list manager Sam Power said they "exhausted all avenues" in negotiations with Geelong over Smith, who is about to come out of contract after missing all this season because of a knee reconstruction.
Along with Port Adelaide's two-time All-Australian defender Dan Houston, who went to Collingwood in a three-club deal on Tuesday, Smith was the highest-profile player in this year's trade talks.
He's Here.— Geelong Cats (@GeelongCats) Welcome to Geelong, Bailey Smith!#WeAreGeelong | @PepperstoneFXOctober 16, 2024
Geelong gave up the No.17 draft pick for Smith, plus there was an exchange of later selections.
Cats list manager Andrew Mackie said they were "always confident" the Smith deal would be finalised, without having to risk going to next month's national draft.
"We're just really excited as a footy club to get a 23-year-old Bailey Smith coming in and excited about what he can do for us," Mackie said.
The Smith deal also involved Carlton midfielder Matt Kennedy going to the Bulldogs and Jack Macrae leaving the 'Dogs for St Kilda, plus the movement of lower draft picks.
After the Jake Stringer deal looked to have fallen over, it was revived late on Wednesday and was among the flurry of trades done late, with the Essendon forward joining GWS for pick No.53.
Jake Stringer will attempt to reignite his AFL career at the Giants. (James Ross/AAP PHOTOS)
West Coast's Tom Barrass will bolster the Hawthorn defence, while Luke Parker and fellow Sydney player Jacob Konstanty head to North Melbourne.
Caleb Daniel also joins the Kangaroos from the Western Bulldogs and James Peatling was traded from GWS to Adelaide.
When Power fronted the media after the last-minute trades, he made a point of acknowledging the contributions of Daniel and Macrae to the club. Power did not mention Smith in those thanks.
Earlier on Wednesday, Daniel Rioli's reunion with coach Damien Hardwick at Gold Coast means Richmond now boast a whopping eight picks in round one of the AFL draft.
The Tigers confirmed Rioli's trade to the Suns shortly after they also sent fellow premiership player Shai Bolton to Fremantle.
Richmond scored the No.6 and 23 round-one picks for Rioli, while also sending later picks to Gold Coast.
The Bolton deal was even more lucrative for Richmond in terms of draft picks, scoring the No.10, 11 and 18 selections, while they sent No.14 to the Dockers.
Shai's got a message for you 🔔— Fremantle Dockers (@freodockers) #AFLTrade | #foreverfreo pic.twitter.com/rnKL2sqHYYOctober 16, 2024
The Tigers had received the No.14 pick in Tuesday's bumper three-club trade where they lost Liam Baker to West Coast and Carlton scored the No.3 draft pick from the Eagles, much to the consternation of the WA club's fans.
As of Wednesday, Richmond have the first, sixth, 10th, 11th, 18th, 20th, 23rd and 24th picks - all in the first round.
The Dockers initially offered Richmond picks No.10 and 18 for Bolton, but the Tigers wanted picks No.10 and 11.
West Coast put pressure on Fremantle by again inquiring about Bolton, forcing the Dockers into action.
Bolton is set to sign a five-year deal with Fremantle, and his impending arrival means the Dockers will start 2025 as one of the premiership favourites.
Bolton and Rioli join Baker and Jack Graham as premiership players who have left the Tigers.
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