Los Angeles sent Peter Budaj, defensive prospect Erik Cernak, a 2017 seventh-round pick and a conditional pick to Tampa Bay for Bishop and a 2017 fifth-round pick.
Lightning general manager Steve Yzerman announced the trade Sunday night, less than four days before the trade deadline.
Bishop, a pending unrestricted free agent, helped the Lightning reach the 2015 Stanley Cup Final. The Kings now have Bishop and 2012 and 2014 Cup winner Jonathan Quick, who returned Saturday from a long-term lower-body injury that had sidelined him since October.
The 6-foot-7 Bishop, 30, is 16-12-3 with a 2.55 goals-against average and .911 save percentage.
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