Smith was the only Australian to qualify for both sides – opener David Warner, and pace bowler Josh Hazlewood joining him in the Test team.
During the voting period Smith scored 1734 runs at 82.57 in 13 Tests with seven centuries.
He enjoyed a similarly profitable return in one day games, scoring 1249 runs at an average of 59.47 with four centuries.
Warner scored 1182 runs during that time at an average of 47.28.
Hazlewood jagged 40 wickets at 21.75.
After an outstanding World Cup in which he was named player of the tournament thanks to his 22 wickets at an average of just 10, Mitchell Starc made the ODI team.
Alastair Cook was named as the captain of the Test side that includes three Englishmen in Stuart Broad and Joe Root.
South Africa’s AB de Villiers, meanwhile was selected in the ODI Team of the Year for the fourth time in five years and for the first time as captain. Proteas players Hashim Amla and Imran Tahir joined him.
The qualification period for the teams ran from September 18 last year to September 13 2015.
The selection panel who made the decision included past greats such as former West Indies fast bowler Ian Bishop, ex England batsman Mark Butcher and former Australia women’s captain Belinda Clark.
It was chaired by former India captain Anil Kumble.
Winners of the individual awards will be announced later this month.
ICC Test Team of the Year 2015
David Warner (Aus), Alastair Cook (Eng) (captain), Kane Williamson (NZ), Younis Khan (Pak), Steven Smith (Aus), Joe Root (Eng), Sarfraz Ahmed (Pak) (wicketkeeper), Stuart Broad (Eng), Trent Boult (NZ), Yasir Shah (Pak), Josh Hazlewood (Aus). 12th man Ravichandran Ashwin (Ind).
ICC ODI Team of the Year 2015
Tillakaratne Dilshan (SL), Hashim Amla (SA), Kumar Sangakkara (SL) (wicketkeeper) AB de Villiers (SA) (capt), Steven Smith (Aus), Ross Taylor (NZ), Trent Boult (NZ), Mohammed Shami (Ind), Mitchell Starc (Aus), Mustafizur Rahman (Bang), Imran Tahir (SA). 12th man: Joe Root (Eng).
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