This paper proposes a smart LED lighting system for street lighting applications. Besides the optical LED arrangement, the luminaire is composed by a Cuk-based power converter operating in discontinuous conduction mode, with dimming capability, a set of sensors, and a digital processor. The system has the capability of executing several functions simultaneously. Among the main features are the capability of controlling the current flowing through the LEDs, the control of the light level with a PWM dimming technique, and the protection of the driver against some common failures, such as output overvoltage (load disconnection). Furthermore, the smart luminaire is also capable of estimating its power consumption and even monitoring specific power quality parameters related to the grid voltage, such as sags and swells. All of the aforementioned functions were developed with a minimalist set of sensors, which reduces the hardware requirements of the system. In order to perform an experimental evaluation of the proposed system, a software intended to manage the luminaire functionalities and a 70-W prototype were built. The experimental results demonstrated a good performance of the LED driver as well as the functionalities of the proposed luminaire.