Chancellor, who missed all of training camp and the first two games of the season, had been holding out in hopes of getting his contract restructured.
But the Pro Bowl safety texted Smith that business can wait until after the season.
"Ima go help my teammates that are understanding of my position and the ones who aren't," Chancellor said in the text message. "God forgives all, why can't i? Time to help us get back to the big dance. I can address business after the season. Me and Marshawn started a mission 2 years ago. I can't let my Dawg down....Real talk."
In missing the first two games of the season, Chancellor forfeited two game checks of $267,647. It is unclear whether the organization will waive Chancellor's fines for skipping training camp.
The reigning two-time NFC champion Seahawks are off to an 0-2 start this season and have given up 11 pass plays of 20-plus yards, second most in the NFL. Dion Bailey started the first game at strong safety before being replaced by DeShawn Shead in Week 2.
Chancellor, a three-time Pro Bowler, is under contract through 2017.
ESPN NFL Insider Adam Schefter contributed to this report.