Gather the ingredients.

Sprinkle salt over entire roast; wrap roast in plastic wrap. Refrigerate for 4 hours to overnight.

Combine olive oil, black pepper, garlic powder, rosemary, thyme, onion powder, paprika, and cayenne pepper in a bowl. Set aside for flavors to blend, about 1 hour.

Pour 3/4 of the oil mixture over roast; massage into the top and sides of meat. Flip roast; pour remaining oil mixture over roast and massage. Place roast on a plate and refrigerate for at least 1 hour or up to 12 hours.

Preheat the smoker to 225 degrees F (110 degrees C) to 230 degrees F (107 degrees C). Add hickory or pecan wood chips to the smoker. Insert an oven-safe meat thermometer into the thickest part of roast. Place roast into the smoker and cook until medium-rare, 3 to 3 1/2 hours. An instant-read thermometer inserted into the center should read 130 degrees F (54 degrees C).

Remove roast from smoker and preheat the grill to its highest setting or preheat the oven to 500 degrees F (260 degrees C) to 550 degrees F (288 degrees C). Grill prime rib or roast in the preheated oven until crust is crunchy, producing a reverse sear, about 5 to 10 minutes. Allow roast to rest for 10 to 15 minutes before slicing.