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We propose a method for direct digital frequency synthesis (DDS) using a cubic spline piecewise-polynomial model for a phase-to-sinusoid amplitude converter (PSAC). This method offers maximum smoothness of the output signal. Closed-form expressions for the cubic polynomial coefficients are derived in the spectral domain and the performance analysis of the model is given in the time and frequency domains. We derive the closed-form performance bounds of such DDS using conventional metrics: rms and maximum absolute errors (MAE) and maximum spurious free dynamic range (SFDR) measured in the discrete time domain. The main advantages of the proposed PSAC are its simplicity, analytical tractability, and inherent numerical stability for high table resolutions. Detailed guidelines for a fixed-point implementation are given, based on the algebraic analysis of all quantization effects. The results are verified on 81 PSAC configurations with the output resolutions from 5 to 41 bits by using a bit-exact simulation. The VHDL implementation of a high-accuracy DDS based on the proposed PSAC with 28-bit input phase word and 32-bit output value achieves SFDR of its digital output signal between 180 and 207 dB, with a signal-to-noise ratio of 192 dB. Its implementation requires only one 18 kB block RAM and three 18-bit embedded multipliers in a typical field-programmable gate array (FPGA) device.