The Men in Black star recently admitted to People that the prospect of the 11-year-old seeing boys in the future scares him.
He stated: "It's coming, and I'm nervous about it. Having two boys and a girl, I realise that boys take trouble to other people's houses, and girls bring it home."
Smith has two children with wife Jada Pinkett Smith, Jaden Smith and Willow, as well as an older son from a previous marriage.
"The thing we are struggling with is the rules," he adds, "And setting fair rules for the boys and for Willow, but she's not having any of that."
The 43-year-old actor also revealed his plan for approaching future suitors. "When Willow does bring a boy home, I'm going to screen him and find out everything about him.
"And that's going to happen when she's 40, when she's allowed to go on dates!"
Willow Smith is best known for her hit song 'Whip My Hair'. She is set to star as the title character in an upcoming Annie remake, for which Jay-Z will be writing new music.
Will Smith currently stars in Men in Black III opposite Josh Brolin.
Watch a trailer for Men in Black III below: