The Lakers, playing without leading scorer Pau Gasol, led by eight at halftime and exploded for an astounding 51 points in the third frame -- the most in any quarter of the Lakers' storied franchise and the most given up by the Knicks.
Los Angeles made 57.8 percent of its shots and were one 3-pointer shy of matching a franchise record with an 18-of-28 long range shooting display.
Carmelo Anthony led New York with 29 points and nine rebounds, but it was not nearly enough for a team that now sits three games back of the Atlanta Hawks for the eighth and final playoff spot in the Eastern Conference.
The Knicks had their eight-game winning streak snapped Sunday when they blew a 17-point lead against the Cavaliers, and they opened their pivotal five-game road trip with an embarrassing setback as Phil Jackson, their new president of basketball operations, watched from the luxury box.
The Lakers' starters came out cold, shooting 2-for-12 (16.7 percent) from the floor in the first quarter, and the poor showing allowed the Knicks to jump out to a 22-14 lead despite Anthony starting out 0-for-6 from the field.
Henry came off the bench and sparked the turnaround with eight points during a 15-2 run to open the second quarter.
The Lakers connected on all but five of the 20 shots they put up in the frame, including a 6-for-7 showing from behind the arc, and took a 50-42 advantage into the intermission.
Somehow, the hosts looked even better in a historic third.
Nine different Lakers scored during the 51-point bonanza, which again saw them make six 3-pointers and shoot an eye-popping 19-of-26 (73.1 percent) from the field.
Jodie Meeks drained two from behind the arc during a 19-3 five-minute stretch early in the stanza, as Ryan Kelly capped the flurry with another deep make that extended Los Angeles' cushion to 74-49.
Young missed from the perimeter in the closing seconds, yet the Lakers still held a insurmountable 101-73 lead entering the fourth.