Iowa (5-5) never trailed and maintained double-digit leads throughout most of the second half, handing the Cyclones (6-3) their third straight loss and biggest margin of defeat this season.
The victory also helped Iowa bounce back after letting a 13-point second-half lead slip away in a loss earlier in the week against Northern Iowa.
For Iowa State, the loss marked the first time since 1997-98 the Cyclones have been beaten by all three instate foes in the same season. The Cyclones lost at Drake on Dec. 3 and at Northern Iowa on Nov. 29.
After struggling to score against Northern Iowa on Tuesday, Haluska rediscovered his shooting touch late in the first half against Iowa State. He scored his first points when he drove down the lane and hit the ensuing foul shot with 6:33 left in the half.
Then with three minutes left, Haluska scored nine straight to give the Hawkeyes a 41-25 lead before the half.
Haluska, Iowa's leading scorer this season, was 5-of-13 from the field, including 2-of-4 from behind the 3-point arc.
Smith, who came in averaging 14.2 points, was 6-of-16, including several second-half dunks that brought an already raucous crowd to its feet.
Iowa State made a run early in the second half and cut the Hawkeyes' lead to eight when Taylor nailed a pull-up jumper at the 14:43 mark.
But poor shooting and sloppy ballhandling prevented the Cyclones from getting closer.
Haluska answered Taylor's basket with a 3-pointer, fueling an 18-7 Iowa run over the next eight minutes.
Unlike Tuesday's loss against Northern Iowa, the Hawkeyes held the lead down the stretch by hitting free throws, minimizing turnovers and clamping down defensively.
Iowa shot 46.7 percent, hit 6-of-8 3-pointers and had just 12 turnovers. The Cyclones shot 38.6 percent and committed a season-high 26 turnovers.