A rib eye roast is a cut of beef or pork from the rear loin section of the animal behind the ribs, close to the shoulder. If you have ever made a rib eye roast that turned out dry, it was probably overcooked. The lean meat is subject to drying out because it doesn't have the marbling more tender cuts have that baste the meat while cooking. Smoking a rib eye roast "low and slow" means using lower roasting temperatures over a long period of time.
Prepare the roast with a marinade. A basic marinade includes 1/2 cup of olive oil, 1 tsp. of salt and 1 tsp. of black pepper. Add cayenne pepper, onion powder, garlic powder and other beef seasonings as desired. Rub the marinade all over the meat, sitting it in an airtight container overnight in the refrigerator.
Bring the roast out of the refrigerator two hours prior to cooking so it will warm to room temperature.
Start your smoker. Award winning barbecue chef "Meathead" Goldwyn recommends indirect heat, which is created by setting the flames on one side of the grill and allowing the heat to circulate around the grill with the lid closed while cooking meat on the side that has no flames.
Wait for the temperature of the smoker or grill to reach 325 degrees Fahrenheit. If your grill doesn't have a thermometer to establish internal temperature, wait for the flames to reduce and the coals to have a white coating over them.
Add wood chips over the coals for a greater smokey, woody flavor. Popular smoking woods are mesquite, hickory or apple. Place a layer over the coals -- you may need to add more wood later.
Set a water pan under the grill side where there is no flame or fire. Fill the pan with 1/2 inch of water. Add more water as necessary.
Place the roast on the grill on the side where there are no flames under it. Close the lid.
Allow the roast to cook without checking on it too often. Opening the lid releases heat and creates uneven cooking temperatures. A 6 lb. roast takes approximately three to four hours to cook. Check on the roast after 1.5 hours, basting with a wet rub mixture and adding water and wood chips if needed.
Place an meat thermometer deep into the roast center to check if the meat is completely cooked. Medium rare meat is removed from the grill at 125 to 130 degrees Fahrenheit. Medium meat is removed at 130 to 135 degrees, with well done meat taken out of the smoker at 135 to 140 degrees.
Remove the roast and set on a plate for 20 minutes. Slice and serve.