Wade had been out of action due to a sprained ankle. He hit 11-of-19 from the field while scoring 28 points, as Miami won its third straight and sixth out of seven.
James had eight rebounds and seven assists to go with his 31 points. Miami made 23-of-26 from the foul line and forced 19 New York turnovers.
New York, playing without Carmelo Anthony, due to thumb and ankle injuries, attempted 43 shots from 3-point range and hit 18 of them. The Knicks, however, were just 12-of-41 from inside the arc and were outscored in the paint 42-14.
Bill Walker scored all of his 21 points from long range to lead the Knicks, who have lost eight out of nine.