Implementing 3rd party libraries into Qt

I need to implement SMPlayer into my Qt application, to use it for multimedia playback. As I am beginner and I know only fundamentals of C++, I have several questions for everyone to help me from where to start, and how to do what I want.

I built a few Qt applications and I have a basic understanding on how Qt framework works, but now I need to do something a little bit harder, and I feel stucked.

I downloaded SMPlayer source, and its too big to go into it, so I would like to know, from where to start when trying to implement 3rd party libraries, not just in Qt, but everywhere. Source is so big, and I know that I don't need all of features included in that source, but only to embed video playback into QWidget. It seems a bit complicated from my point of view, so please help.
This seems to be a very complex endeavor for someone new to QT.
If you feel you are up to it, here is a link that might help you:
http://forum.smplayer.info/viewtopic.php?f=4&t=19

Good luck!
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