The 22-year-old Olympian has juggled a love for singing and gymnastics his whole life, and four years ago tried out for Simon Cowell's ITV competition.
"It was a bit of fun," he told the Radio Times. "I had to make a decision when I was 8 and got offered a scholarship in singing either to do that full time or carry on with gym. I chose gym."
However, Smith's fellow Team GB competitor Beth Tweddle revealed that his passion for music is still very much alive.
"He likes to be the centre of attention," she said. "In the gym, you'll be training and suddenly he'll break into song.
"If I broke into song, people would wonder what was wrong with me, but that's Louis."
The first trailer for this year's X Factor, which features ex-contestants including One Direction, Leona Lewis and Olly Murs, was released today (July 30).
Another member of Team GB, boxer Anthony Ogogo, dabbled with reality TV in 2008 when he appeared on Big Brother: Celebrity Hijack.
Watch celebrities discuss their favourite Olympic sports with Digital Spy below: