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In an interview with the BBC, Smith applauded the Academy of Motion Picture Arts and Sciences for its swift response to the backlash the academy received about the lack of diversity in the Oscar nominations.
"I was very pleased at how quickly and aggressively the academy responded," Smith said.
Last week, amid growing criticism from both the public and Hollywood, the academy announced that the organization's board voted unanimously to take steps to make the academy "significantly" more diverse.
Smith, 47, revealed last week that he will not be attending the Oscars along with his wife Jada Pinkett Smith. The actor reaffirmed previous statements he made, insisting that the reason he is boycotting the Oscars has nothing to do with the fact that he wasn't nominated for his performance in "Concussion."
"I want to be very clear about the spirit of what I'm saying. This is far beyond me. This has nothing to do with me. This has nothing to do with awards," Smith said. "That's a really frivolous reason for me to put my hand up and make a statement. For me this is much more about the idea of diversity and inclusion."
Smith noted that the diversity concerns surrounding the Academy Awards need to be discussed and handled as a team, and that the academy "family" must work together for a solution.
"I think that it's not us and them—it's we," Smith said. "I'm a member of the academy, so it's much more a domestic family issue than it is a civil rights issue, so it's a problem we all have to solve."
The 2016 Academy Awards will air on Sunday, Feb. 28, at 7 p.m. ET on ABC.