Centrilobular emphysema (CLE) and paraseptal emphysema (PSE) are observed in smokers with Preserved Ratio Impaired Spirometry (PRISm, defined as the ratio of forced expiratory volume in 1 s (FEV1) to forced vital capacity (FVC)≥0.7 and FEV1<80%), but their prevalence and physiological impacts remain unestablished. This multicenter study aimed to investigate its prevalence and to test whether emphysema subtypes are differently associated with physiological impairments in smokers with PRISm.Both never and ever smokers aged at ≥40 years who underwent CT for lung cancer screening and spirometry were retrospectively and consecutively enrolled at three hospitals and a clinic. Emphysema subtypes were visually classified according to the Fleischner system. Air-trapping was assessed as the ratio of FVC to total lung capacity on CT (FVC/TLCCT).Of 1046 never-smokers and 772 smokers with >10 pack-years, the prevalence of PRISm was 8.2% and 11.3%, respectively. The prevalence of PSE and CLE in smokers with PRISm was comparable to that in smokers with normal spirometry (PSE 43.7% versus 36.2%, p=1.00, CLE 46.0% versus 31.8%, p=0.21), but higher than that in never-smokers with PRISm (PSE, versus 1.2%, p<0.01, CLE, versus 4.7%, p<0.01) and lower than that in smokers with airflow limitation (PSE, versus 71.0%, p<0.01, CLE, versus 79.3%, p<0.01). The presence of CLE but not PSE was independently associated with reduced FVC/TLCCT in smokers with PRISm.Both PSE and CLE were common, but only CLE was associated with air-trapping in smokers with PRISm, suggesting different physiological roles of these emphysema subtypes.