- July 8, 2010
Traded Amar'e Stoudemire to the New York Knicks for a 2012 2nd round draft pick. Phoenix also received a trade exception from New York. Phoenix did not receive the 2nd round draft pick because it was top 55 protected.
Traded a 2011 2nd round draft pick (Charles Jenkins was later selected) to the Chicago Bulls for Hakim Warrick.
- July 14, 2010
Traded Leandro Barbosa and Dwayne Jones to the Toronto Raptors for Hedo Turkoglu.
Traded a 2012 2nd round draft pick (Mike Scott was later selected) to the Atlanta Hawks for Josh Childress. Atlanta also received a trade exception from Phoenix.
- July 26, 2010
Waived Taylor Griffin.
- September 24, 2010
Signed Garret Siler as a free agent.
- November 16, 2010
Assigned Gani Lawal to the Iowa Energy of the D-League.
Signed Earl Barron as a free agent.
- December 18, 2010
Traded Earl Clark, Jason Richardson and Hedo Turkoglu to the Orlando Magic for Vince Carter, Marcin Gortat, Mickael Pietrus, cash and a 2011 1st round draft pick (Nikola Mirotic was later selected).
- December 19, 2010
Recalled Gani Lawal from the Iowa Energy of the D-League.
- December 21, 2010
Waived Earl Barron.
- January 2, 2011
Assigned Garrett Siler to the Iowa Energy of the D-League.
- January 9, 2011
Recalled Garrett Siler from the Iowa Energy of the D-League.
Signed Zabian Dowdell to two 10-day contracts, then signed to a contract for the rest of the season.
- February 24, 2011
Traded Goran Dragic and a 2011 1st round draft pick (Nikola Mirotic was later selected) to the Houston Rockets for Aaron Brooks.
- June 23, 2011
Drafted Markieff Morris in the 1st round (13th pick) of the 2011 NBA Draft.