The by-election, which will take place later this year, was triggered when former House of Commons Speaker Michael Martin stood down in the wake of a row over lawmakers' expenses.
Smeaton, 33, told the Sun newspaper he was "ready to rock the boat" in Westminster.
He will stand for Jury Team, a political movement campaigning for an end to "misconduct and waste at the heart of Westminster."
Austin Compton Bradford, a spokesman for Jury Team said: "The candidate is very, very well known in Glasgow, nationally and internationally.
"We want to bring the voices of the ordinary person into Parliament and get real people who are part of the community to stand."
During the 2007 attack, a Jeep Cherokee containing gas canisters crashed into a terminal, exploding into flames and setting part of the building ablaze.
Smeaton raced to help police restrain the two suspects as they tried to flee the vehicle.
He was later awarded a special Queen's medal for bravery.
-------------------------------------------------------------------------------------------------------------------------------