Akshay, 48, had three releases this year, "Airlift", "Housefull 3" and "Rustom", and all became superhits, earning over Rs 100-crore.
Smith, 47, was seen wearing a black sweater with black denim jeans as he partied hard with Akshay and his wife Twinkle at the "Baby" star's residence here last night.
The party also saw attendance from Ranbir Kapoor, Karan Johar, Jacqueline Fernandez, Shraddha Kapoor, Alia Bhatt among others.
"Akshay had hosted a bash at his residence to celebrate the success of his last three films - 'Airlift', 'Housefull 3' and 'Rustom'. All three films that released this year did commercially very well.
More From This Section
"He had invited lot of friends and colleagues from film industry. Will Smith was also present at the party," sources added without divulging details about "Men In Black" star's meeting with Akshay.
Others who were present at the bash were Dimple Kapadia, Varun Dhawan, Rohit Dhawan, Arjun Kapoor and Sonakshi Sinha.
Jacqueline also posted a photo on Instagram with the Hollywood star along with Varun and Alia, writing "OMG #freshprinceofbelair".
Sonakshi shared a photograph in which she is posing with Smith.