Smith became club captain after the departure of Neto on loan to Arsenal and has stepped up in a number of games which has impressed Iraola.
The English defender signed a contract extension which will keep him at AFC Bournemouth until the summer of 2026 as the Cherries looked to lock down one of their most influential players.
Iraola spoke about his admiration for Smith and why he earnt his new deal.
“You can see it, he's been very important He was very important past season, very important this season. I've talked a lot of times about Adam.
“I think he realises, and he understands the game and that he has to earn every season.
“Once you get to an age, every season, you have to earn the right to continue playing in the Premier League.
“He has done it brilliantly and he has absolutely deserved this.”
Smith has now amassed 380 appearances across his two spells at the club in all competitions and spoke about how happy he is to stay at the club for another season.
“I’m absolutely delighted to stay here for another season. I feel absolutely amazing to be honest and the journey continues.”