In a medium mixing bowl, combine the lean ground beef, egg yolk, Italian seasoned breadcrumbs, fresh basil, garlic powder, oregano, salt, and pepper. Mix the ingredients enough so that they are distributed evenly throughout the ground beef and divide into 12 portions.
Flatten the ground beef mixture out into a disc shape and wrap around the raw, peeled shrimp until only about ½ inch + of the shrimp tail is showing. Overall the meatballs will be roughly 1-1 ½ inch in size. Set the shrimp in meatballs onto your smoker rack (I lined mine with aluminum foil to prevent sticking and falling apart later) and place in the smoker at 250 degrees F (121 degrees C). Smoke for 35-40 minutes, or until no longer pink inside.