Smallville is coming back as has already been announced. However, season ten will be the show's last. One more year of Smallville. Yes, that makes me very sad. However, ten years is a great accomplishment and I choose to celebrate that ten years instead of being sad. I'll be sad later when it gets closer to the end. Tom Welling confirmed this in an interview with Hollywood Life which you can check out at this link: http://www.hollywoodlife.com/2010/05/19/exclusive-bye-bye-smallville-—-tom-welling-confirms-season-ten-will-be-its-last/
The CW plans to make an official announcement about this at their upfronts presentation. I have read some rumblings that the network wanted to make the official announcement but I'm glad that Tom beat them to it. He deserves to make the announcement and not a network that has treated the show terribly ever since it has had it. The CW has done little to promote the show. Whenever you see promotional videos for the network, you're lucky to see maybe one shot of something from Smallville. It is frustrating as can be as a Smallville fan. The show has performed well for them but you wouldn't know it by the way it is promoted. I remember back in the fall watching the CW season premiere promos in the corner of the screen during shows. I literally wanted to scream at the TV while seeing all these other show's season premieres being promoted heavily and Smallville getting a "oh by the way, it premieres on this date too". The show barely had any representation at the upfronts last year as the network focuses on all of its other shows. The show then got exiled to Friday nights which felt like a good slap in the face too but the show held strong and did better than many expected on such a tough night. Smallville has been a very fun show to watch. Amazing cast, crew, stories, and an all around great show over the years. I'm going to miss it and congratulate everyone involved on this amazing accomplishment of going ten years. I know all of us fans look forward to having a great ending to the show.