The special edition of the Anglepoise lamp has the same form and functional elements as British designer Kenneth Grange's 2004 iteration.
Paul Smith picked a set of discordant colours to add to different elements of the lamp.
"It has been brilliant to work on this project," said Smith. "Anglepoise is such an iconic piece of British design, I am honoured to have been involved."
Bright pink, light blue, olive green, yellow and light pink have been used on each of the sections that make up the aluminium arms, while the shade is off-white.
The grey cast-iron base is printed with Smith's signature, which is also the logo of his brand.
The original Anglepoise lamp was designed in 1932 by automotive engineer George Carwardine, who invented a new type of spring that stays in position after being moved in any direction.
Anglepoise is displaying Smith's lamp at the Design Factory exhibition in the Farmiloe Building on St John Street during London's Clerkenwell Design Week festival, which continues until 22 May.
The design will be available to pre-order online from mid August, and will go on sale in Paul Smith stores and selected retailers in September.