Nets General Manager Billy King announced the trade, saying Thornton will bring additional scoring to Brooklyn's lineup.
"Marcus is a proven scorer in this league," he said. "He is a young talent who will help us in the backcourt."
Thornton, who averaged 21.3 points per game for the Kings last season, is producing 8.3 ppg in the current campaign.
Moving to Sacramento are Terry, who came to the Nets in the off-season trade with Boston that landed Paul Pierce and Kevin Garnett, and the 6-foot-8 defensive specialist Evans, who hauled down 11.1 rebounds per game last season.