Allen Iverson also scored 20 points, and Marcus Camby had 21 rebounds -- his fifth 20-rebound game of the season -- for the Nuggets, who led by 33 in the second half.
Dwyane Wade had 13 points for Miami, and Ricky Davis and Daequan Cook had 11 each.
Wade and Shaquille O'Neal were saddled with early foul trouble. O'Neal picked up two fouls in the first 5:33, and Wade was whistled for two quick ones late in the first and sat the entire second quarter with three fouls.
When O'Neal was in the game, things didn't go well for the 7-footer. Midway through the second quarter, he missed a dunk and the follow, and Martin hit a jumper in the lane to give Denver a 53-30 lead.
O'Neal finished with a season-low six points, and had eight rebounds and four fouls.
The Heat went on a 12-2 run to cut the deficit to 59-42 at the half. Miami got to 61-49 early in the third quarter, but the Nuggets followed with a 12-2 run of their own to push the lead back to 20 with 7:22 left in the period.
The Nuggets poured it on, and they closed the quarter with Iverson hitting a 33-foot buzzer-beater to make it 92-64.
The Nuggets wasted no time taking over the game. They ran out to a 12-3 lead in the first 2:24 and never let up. Anthony had 12 points in the first quarter and Denver built a 37-17 advantage after the first 12 minutes.
Eduardo Najera hit a 3-pointer 12 seconds into the second to make it 40-17. Later in the period, Najera's steal led to Linas Kleiza's layup that made it 48-27 with 7:35 left in the half.
Heat G Jason Williams sprained his right foot in the third quarter. He didn't return. ... The Nuggets are 6-1 against Miami since O'Neal joined the Heat in 2004 and have won five straight against the 2006 NBA champions. ... Heat coach Pat Riley is one win shy of 1,200 for his career. He has coached 1,838 games and will be the fastest NBA coach to reach the milestone. ... Miami's 4-12 start is its worst since the 2003-04 season. That team also started 4-12, but finished 42-40 and reached the Eastern Conference semifinals.