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Speaking to Jabari Banks on a video call, the Hollywood star stunned him to silence by telling him that he'd been successful in getting the role.
Banks will play the role of Will, the character that catapulted Smith, 52, to stardom after the show became a hit in the 1990s.
Sharing the news to Banks, Smith said: "It is an absolute pleasure to meet you, to be on with you, and from the deepest parts of my heart I want to say congratulations to you.
"You have the role of Will on Bel-Air."
A delighted Banks replied: "I'm ready, I'm so ready."
The actor revealed his father sent him an article about the audition and suggested he try out before his agent landed him a spot.
"This is a dream come true," Banks said.
The Fresh Prince Of Bel-Air starred Smith as a fictionalised version of himself, a streetwise teenager who is sent to live with his wealthy aunt and uncle in their Bel Air mansion after getting into a fight in his hometown of Philadelphia.
It ran for six seasons from 1990 to 1996.
The reboot, from NBC streaming service Peacock, is based on Morgan Cooper's 2019 viral fan spec trailer Bel-air.
Producers said it is set in the modern day and described it as a serialised one-hour 'dramatic analogue' to the half-hour sitcom of the original.
In 2020 it was revealed that the reboot had been ordered for two seasons.
Speaking on his YouTube channel when the deal came to a close, Smith explained: "We have just officially closed the deal with Peacock with an unprecedented two-season-order from a pitch.
"I've been in this business for thirty years and that does not happen. They ordered two full seasons of Bel-Air based on the quality of the pitch and the work that you guys have done. So I want to say congratulations. I am hyped."
It's understood that it will still follow the same story of Smith's character having to move from Philadelphia to live with his aunt and uncle, and there will be some comic moments.
Smith added: "That's what I'm most excited about and what really clicked in my mind when I saw the trailer that Morgan did.
"The concepts in The Fresh Prince of Bel-Air reimagined as a drama, like a real kid from West Philadelphia, modern day, a black family in Bel-Air, the Carlton character, a black, young Republican, modern day."
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