The striker arrives at the Mem on a season-long loan from Premier League side, Sheffield United.
The 20-year old enjoyed two loan spells last season, taking in time with both Barrow and Doncaster Rovers.
It was during his stint Barrow that the striker enjoyed a fine spell in front of goal, scoring on his debut for the National League side during a 3-0 win over Havant and Waterlooville.
Smith returned ten goals for Barrow before being recalled from his loan spell at the start of December to feature in the Sheffield United first-team squad.
A loan move to Sky Bet League One followed as the striker joined Doncaster Rovers during the January transfer window.
On his debut for Doncaster Rovers, Smith bagged a brace in a 2-2 draw against Burton Albion at the Keepmoat Stadium.
In total, the forward found the net twelve times in just shy of forty appearances last campaign.
The striker has travelled with the squad for the pre-season training camp in Ireland, where he’s been familiarising himself with the squad, as the preparations continue to build momentum towards the new campaign.
After the deal was confirmed for the striker to join the Gas, Manager Graham Coughlan said, “We are pleased to be able to bring Tyler to the Club for the season ahead.
“He’s a player that has experience at this level and is highly thought of at his parent club and has proved his ability in previous loan spells.
“Tyler will give us more options at the top end of the pitch and will complement well what we already have in the squad.
“He joins us at a busy time, but the next few weeks will see Tyler fully integrated into the surroundings and well set for the start of the season.
“I would like to thank Chris and the staff at Sheffield United for allowing this deal to take shape and look forward to working with Tyler over the coming season.”