The university will announce his retirement at a 2 p.m. ET news conference.
Ohio State head coach Urban Meyer walks off the field with his wife, Shelley Meyer, early Sunday after defeating Northwestern in the Big Ten championship NCAA college football game in Indianapolis. Offensive coordinator Ryan Day will take over as head coach the next day.
Meyer is 85-9 in seven seasons as Ohio State coach, including a 54-4 Big Ten record. He also says he is not sure he is able to coach at the intense, demanding level he has used for more than 30 years.
Smith was sacked this year after being accused by his ex-wife of domestic abuse.
Ohio State could have spent much of the season watching other coaches, but in each of those instances, the university would have had to imagine those coaches at OSU. While Meyer had repeatedly stated his intentions to coach next season, he revealed to Cleveland.com in October his condition was serious.
"I dreamt of it", Meyer said Sunday. If doctors give him the clearance to return to coaching at the style he has to in order to get the necessary results, it's only a matter of time until Meyer is patrolling the sidelines again for a premier program in college football.
There is plenty of caution - like hiring a guy who has just three games of head coaching experience - but Day's future is as bright as any assistant coach in the nation, so Ohio State just made a decision to keep him home and turn his future into theirs. "He was directly responsible for my son coming to Ohio State".
The Buckeyes went 3-0 with Day on the sideline, beating No. 15-ranked TCU on the road to finish Day's temporary stint as head coach.
Recruitment: Ohio State's battle for Young came down to the local school, Maryland, and another national power in Alabama. Citing concerns for his health and a desire to be with his family, Meyer resigned but eventually changed his mind and coached one more seasons with the Gators before stepping away in 2011.
But the loss to Purdue weighed heavily and Ohio State finished No. 6 in the playoff rankings.
Everyone had to chase Meyer, who would win two titles, and that chase led to to the hire of Nick Saban, who arrived in the SEC two years after Meyer got to Florida.
Day had the advantage of being at Ohio State already, but that also shouldn't disqualify him from the job. Meyer was given a three-game suspension for his role in the controversy. Meyer has about $38 million left on his contract. He coached for two years at Bowling Green and two years at Utah before joining Florida in 2005.