Each player joined his former team this offseason as a free agent.
RELATED: [2017-18 NHL Trade Tracker]
Cammalleri had seven points (three goals, four assists) in 15 games for Los Angeles, with two points in his past 10 games.
Jokinen had one assist in 14 games for Edmonton.
"We made this trade to improve our shooting," Oilers general manager Peter Chiarelli said. "Mike has always been an effective offensive player with his shot and offensive ability. At the end of the day, improving our offense will obviously take a collective effort, but Mike will be given an opportunity to help improve it."
Cammalleri, 35, has 620 points (290 goals, 330 assists) in 855 games with the Kings, Calgary Flames, Montreal Canadiens and New Jersey Devils. He has a one-year contract worth $1 million, according to CapFriendly.com.
"I don't think [Mike] enjoyed the role that he was in by any means," Kings GM Rob Blake said. "I've had conversations the last couple days. I won't tell you a lot about our conversation. What I would tell you is that we came to the conclusion that it wasn't going the direction he wanted it to."
Jokinen, 34, has 547 points (186 goals, 361 assists) in 905 games with the Oilers, Dallas Stars, Tampa Bay Lightning, Carolina Hurricanes, Pittsburgh Penguins and Florida Panthers. He has a one-year contract worth $1.1 million.
"I think Jokinen is a very versatile player," Blake said. "Plays both wings, center, takes draws. He's been a very reliable player over his career and I think that would bring a little stability to our lineup."