The Cavaliers have acquired center Brendan Haywood and forward Dwight Powell from Charlotte for guard Scotty Hopson and cash considerations.
The Cavs announced the move Saturday, one day after LeBron James said he's returning to Cleveland.
Haywood has played in 794 career NBA games (548 starts) over his 12-year career for Washington, Dallas and Charlotte with averages of 6.9 points, 6.1 rebounds and 1.4 blocks in 23.4 minutes.
The 7-0, 263-pound center missed the entire 2013-14 season due to a stress fracture in his left foot.
Powell played four years at Stanford, appearing in 136 games (105 starts) with averages of 10.8 points and 6.3 rebounds in 26.2 minutes per game.