The Panthers re-signed Smith-Marsette to a one-year contract Tuesday, Ian Rapoport of NFL Network reports.
Smith-Marsette wasn't tendered by the Panthers as a restricted free agent last week, but he's coming back to the team at a lower salary than the low tender. Across 17 games last season, Smith-Marsette recorded eight catches for 51 scoreless yards and returned an NFL-high 37 punts for 322 yards and one touchdown.