Smoking a rib-eye roast (often referred to as a prime rib roast) is pretty easy and makes for an impressive meal. Use a meat thermometer, not time, to guide cooking. Since the roast, once cooked, rests well, so you can give yourself a little extra time between cooking and cutting. This recipe uses a boneless rib eye. The process will work equally as well with bone-in, although I recommend you have your butcher prep the roast by removing the rack and tying it back on. The wood I recommended is any light to medium wood (sugar maple, oak, apple, cherry) and in small quantity; the meat should be the central theme, not the smoke.
Note the reverse sear at the end. This process will result in a nice dark exterior but also a very even medium-rare throughout the roast. If you are bringing the roast to another location to serve, consider conducting the final searing step at that location.
8 - 12 pound rib roast
Dry rub of choice (we used Meat Church's "Holy Cow")
Prep smoker/grill for indirect cooking, bring to 225-275 degrees F; add smoke wood.
Place roast directly on the rack with a drip pan somewhere below.
Cook until center of roast registers 130 degrees F.
Remove, cover with foil, and rest during the next step.
Raise smoker to 500 degrees F. If your smoker is not rated for that high of a temp, then preheat a grill or oven.
Lightly coat roast with cooking spray or melted shortening and place roast, uncovered, back on smoker (or grill or oven) for only 5 minutes.
Remove immediately, cover with foil, rest until serving.
My 10 pound roast took about 5 hours from start to finish. Every roast and smoker is different so use the meat thermometer, not the clock, to determine when it is done.