Both were AVCA All-Americans last season.
Sandy Barbour was Penn State's athletic director from 2014-22.
The third baseman will return for his redshirt junior season after being selected in the MLB Draft.
Smith's four-year deal with Arsenal represents the highest transfer fee in women's soccer history.
Penn State Softball gains two key players ahead of its upcoming season.
The Nittany Lions open on the road for the third year in a row.