Smith is remembered as the defining halfback of his era and played in the last four of the Dragons' 11 consecutive premiership wins that spanned 1956 to 1966.
Given the sport is now governed by strict salary cap rules, it is unlikely the Dragons' feats will ever be replicated.
Born in Fremantle, Smith grew up in Dragons heartland and made his first-grade debut in 1961 at centre.
Smith later shifted to the halves, where he forged a partnership with fullback Graeme Langlands that came to define the Dragons teams of the time.
His 234 first-grade games for the Dragons sits only behind immortal Norm Provan for most appearances at the club prior to its merger with Illawarra - no mean feat given the legendary names that came before Smith.
Smith captained Australia, was a member of the NRL hall of fame and earned selection at halfback in the Dragons' team of the century in 2022.
He was remembered for his tenacity, epitomised in his effort to play bloodied and battered in helping Australia beat Great Britain in the 1970 World Cup final.
"Billy was a legendary figure," said Australian Rugby League chair Peter V'landys.
"He was tough but he was skilful, a necessary combination in the era he played in.
"Norm Provan called him the best halfback he had seen. That says everything about how good Billy Smith was as a player."
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