Alongside Fan Bingbing, the other three female members of the jury are German director, screenwriter and producer Maren Ade, American actress and producer Jessica Chastain and French actress, screenwriter, director and performer Agnes Jaoui.
Spanish director Pedro Almodovar will preside over the eight juries.
German film-maker Maren Ade, who many critics felt should have won the top prize previous year for her comedy "Toni Erdmann", was also tapped alongside cult Korean director Park Chan-wook.
While the jury is otherwise full of Cannes veterans-Almodóvar won the festival's best director prize in 1999 and best screenplay in 2006; Park won the Grand Prix in 2004 and the Jury Prix in 2009-Smith has never had a movie play at Cannes. The actress' breakout role came in Terrence Malick's 2011 Palme d'Or victor "The Tree of Life".
Park is the fourth South Korean to make Cannes jury. Jaoui now stars in the film "Aurore".
Yared's scores include those for The English Patient, for which he won an Oscar, and The Talented Mr Ripley.
Some of the official competition comprises, Robin Campillos "120 Beats per Minute", Sofia Coppolas "The Beguiled", Hong Sangsoos "The Day After", Sergei Loznitsas "A Gentle Creature", Benny and Josh Safdies "Good Time".
Uma Thurman is set to head up the Un Certain Regard jury, while Palme d'Or victor Cristian Mungiu (4 Months, 3 Weeks and 2 Days) will head the jury for short and student films.