The 53-year-old actor has apologised for his actions at the 2022 Oscars ceremony.
The Academy Awards has accepted Will Smith's resignation following the Chris Rock controversy.
Smith slapped the comedian for making a joke about his wife, Jada Pinkett Smith.
The Academy said they will be moving forward with disciplinary proceedings despite the resignation.
They're set to discuss the details at a board meeting on the 18th of April.
In the wake of slapping Chris Rock at the #Oscars, Will Smith has resigned from the Academy: https://t.co/ee1TmcKdIT pic.twitter.com/iuXKACxDBC
— The Hollywood Reporter (@THR) April 1, 2022
Smith said he had 'betrayed the trust' of the Academy following his actions at the Oscars.
He apologised to the film group in his acceptance speech for Best Actor moments after the incident.
During his speech, he didn't directly apologise to Chris Rock, but he later did in an Instagram post.
Smith said he will 'fully accept any and all consequences' of the Academy's disciplinary hearing.
Academy president David Rubin said they will still move forward with their assessment of Smith's actions.