On February 22, 2011, Carter was traded to the New York Knicks in a three-way deal which also involved the Minnesota Timberwolves that brought Carmelo Anthony to New York. Considered a throw-in in the trade, Carter forever cemented his place in Knicks lore when he nearly singlehandedly rallied New York to a playoff victory in an elimination game against the Boston Celtics on April 24, 2011. Carter substituted into the game with the Knicks trailing by 23 and brought life back to the Garden by suffocating Rajon Rondo on defense, scoring 11 points, and dishing four dimes. However, the Knicks' comeback bid ultimately fell short.