The move will open some financial flexibility and a roster spot for the Heat.
Dedmon is averaging 5.7 points in 30 games this season. He played in only one game for Miami after an incident during a Jan. 10 game against Oklahoma City in which he was upset after getting subbed out in the second quarter, argued with Heat players and coaches, then swatted at one of the massage guns behind the bench.
The device sailed onto the court -- coming to rest about 35 feet from where Dedmon was standing -- while play was happening. Dedmon was ejected for unsportsmanlike conduct and was later suspended for one game by the Heat.
It's the first trade between the Heat and Spurs. Miami had made at least one other trade with every other NBA franchise.
The Associated Press contributed to this report.