The film will be screened this weekend, limited to only a few hundred theaters, nationwide.
Ali garnered an best actor Oscar nomination for Smith, as well as a best supporting actor nomination for Jon Voight for his portrayal of sports journalist Howard Cosell, The Hollywood Reporter said.
"With the passing of Muhammad Ali, we have received many requests for this film to return to theaters, in celebration of his life," Rory Bruer, president of worldwide distribution for Sony Pictures, said.
"The film truly honors everything that made Ali one of the central figures of our time, a man who commanded his sport but whose personal faith and principles made him mean so much more."
On Saturday, the actor took to Facebook to post a tribute to the boxer, writing: "You shook up the World! My Mentor & My Friend. You changed my Life.