POSTED: Feb 18, 2016 3:20 PM ET
Mark Bartelstein confirmed the deal on Thursday.
The Thunder have lacked a consistent scoring threat at shooting guard. Foye, 32, is a combo guard who averaged 6.0 points as a reserve for the Nuggets this season, but 13.2 points per game in 2013-14 with 78 starts.
Augustin started the season as Russell Westbrook's backup, but played less as first-round draft pick Cameron Payne emerged. Augustin has averaged 9.7 points and 3.9 assists for six teams in eight seasons.
Novak, in his 10th year, played in seven games this season. The forward is a career 43 percent 3-point shooter who has played for eight teams.