Kings president of basketball operations Geoff Petrie announced the moves Wednesday.
Evans averaged a team-high 17.8 points, 4.8 rebounds, and 5.6 assists in 57 outings in his second year this past season. He won the Rookie of the Year award his first year with the Kings.
Casspi averaged 8.6 points and 4.3 rebounds in 71 games in his second year this past season. He is the first Israeli-born player in the NBA after being selected 23rd by the Kings in the 2009 draft.
Cousins averaged 14.1 points and a team-high 8.6 rebounds as a rookie this past season.