The Hornets have worked a three-team deal that sends Jarrett Jack to Golden State and center Darryl Watkins to the 76ers in exchange for forward/center Edin Bavcic from Philadelphia.
General Manager Dell Demps says the trade "presents an opportunity for our young core to continue to develop."
Jack spent two seasons with the Hornets and last year he averaged career highs of 15.6 points, 6.3 assists and 3.9 rebounds while recording his first career triple-double.
"This is difficult because Jarrett is a hard worker and his leadership on and off the court will be missed," Demps said.
Watkins appeared in just 5 games for the Hornets last season.
Bavcic is a native of Bosnia and Herzegovina who was originally drafted by the Toronto Raptors in the second round of the 2006 NBA Draft. He played in Italy's top division last season and for a team in Greece.
The 6'11" forward/center averaged 10.9 points and 5.5 rebounds while shooting 55.2% from the field in 18 games last season.