In a bowl, combine the kosher salt, black pepper, garlic powder, onion powder, and smoked paprika to create the rub.

Rub the olive oil all over the prime rib, then coat it with the spice mixture.

Set your smoker to 225°F (107°C) and add your wood chips.

Once the smoker is ready, place the seasoned prime rib directly on the grill rack.

Using a meat thermometer, monitor the internal temperature; aim for 125°F (52°C) for medium-rare.

Once the desired temperature is reached, remove the roast from the smoker and wrap it in aluminum foil.

Let the meat rest for at least 20 minutes.

After resting, slice the prime rib against the grain and serve.