Smith died of congestive heart and lung failure, the team said. He lived in Peachtree City, about 30 miles south of Atlanta.
“We are saddened by the passing earlier today of Dwight Smith, an integral member of our 1995 World Series championship team,” the Braves said.
“The 1989 NL Rookie of the Year runner-up, Dwight enjoyed an eight-year Major League career that included two postseason trips with the Cubs and Braves. Dwight was also a beloved alumni member, and his infectious smile will be missed around Truist Park.
“Our deepest condolences to his wife Cheryl, daughters Tylor and Shannyn and son Dwight, Jr.”
Smith made his debut with the Chicago Cubs in 1989. He hit .324 with 111 hits and nine home runs. He finished second in Rookie of the Year voting to teammate Jerome Walton.
Smith joined the Braves in 1995 and played in 103 games, winning the World Series over the Cleveland Indians.
In between his time with the Cubs and Braves, he played for the California Angels and Baltimore Orioles.
In eight years, he batted .275 with a .755 OPS and 46 home runs.
His son, Dwight Smith Jr., has played in the majors with the Toronto Blue Jays and Baltimore Orioles.
The Associated Press contributed to this report.