Fifty metres in length and containing six luxury cabins, the Lady Ann Magee is capable of accommodating 12 guests.
A jacuzzi, a swimming pool and an en-suite sauna are among the features of the 12-crew boat.
For the past number of years, the yacht has been available to charter for €200,000 a week.
Among the famous names who rented the luxury vessel was singer Rod Stewart.
The Scottish rocker hired the yacht after his wedding to model Penny Lancaster in 2007.
However, Mr Smurfit is not bidding farewell to his yachting days as it is believed he is buying a replacement 65-metre luxury vessel.
The tycoon is one of Ireland's richest men and it is thought he made about €240m from selling the Jefferson Smurfit Group.
The Lady Ann cruised the Mediterranean in summer and the Caribbean in winter. When not rented, it was often found moored at the end of the packaging boss's garden in Marbella, where the multimillionaire owns the €30m Villa Loriana.
The yacht has four lifts and an exercise bike.
An option of using the water skis and snorkelling equipment is part of the boat hire.
Also included is a kiteboard,, a surfboard, a windsurfer, the on-board laser sailboat and of course the new kite-boarding equipment.
However, the Lady Ann was too small for Mr Smurfit's 70th birthday bash two years ago.
Instead, he chartered the ultra-luxurious 344ft, 55 double cabin Sea Dream 1 to accommodate his 100-plus guests on a four day cruise of Genoa, Portofino, Elba, Sardinia and St Tropez.