Olaseni produced 14 points and 10 rebounds. Basabe contributed 12 and 11 in the (10-1) Hawkeyes' third straight win.
Peter Jok (11 points), Zach McCabe and Jarrod Uthoff (10 apiece) also reached double figures for Iowa.
The Knights (3-9) were led by Mathias Seilund's 19 points, five rebounds and three blocks.
Celebrity Families of 2014 [PHOTOS]