In the section concerning deodorizing books, the FAQ mentions using
dryer sheets cut into strips and placed between the pages; I can
attest to it's effectiveness - assuming you don't mind the aroma of
dryer sheets.

I took a non-descript, 20 year-old paperback I had gotten from a used
bookshop that SCREAMED "smoker" whenever you opened it, cut the sheets
into strips approximately 1/2" wide, and placed them between the
leaves at 4-5 page intervals. This does have the tendency to make the
pages bulk out and fan the book, but if you're careful it won't be
enough to damage the binding.

When this was done, I wrapped another whole sheet around the book and
taped it in place, careful not to get the tape on the book itself.
Then I put the whole thing in a plastic bag and let it sit on a shelf
for 4-5 days.

When I opened the bag last night and removed the strips, I checked the
book at random, opening and sniffing; the stale cigarette smoke odor
was gone, but the book does smell strongly of the perfume used in the
dryer sheets. For me, it's a definite improvement; for others, a
stink is a stink.

What effect the checmicals in the sheets will have on the paper
remains to be seen, but I suspect I'll be long dead before any
discoloration appears.