Towns finished with 23 points, 15 rebounds and nine assists.
Late in the half, Hardaway penetrated and kicked to an open Porzingis, who hit the catch-and-shoot 3-pointer. The Wolves struggled to contain recent Knicks bench sensation Michael Beasley, for example.
The win improved Minnesota's record to 28-16 and was Tom Thibodeau's first win over the Knicks since becoming Wolves head coach prior to last season.
The former MI star hit the court for the first time since late November with 5:45 left in the first quarter and bricked a corner 3 on his second possession.
Hornacek went with an offensive lineup to open the fourth with Beasley and Porzingis on the court and the move backfired as Minnesota, with four back-ups and Towns on the floor, opened up a 106-92 lead with 6:25 remaining. NY hit 60.5 percent from the field in the opening 24 minutes and led by as many as eight points. His teammates were trying to get him a triple double but on the Wolves' final possession Jeff Teague missed a jumper that would have been Towns' 10th assist. Minnesota allowed more than 100 points for the first time in eight games.
Hardaway made his long-anticipated return Friday, coming off the bench for 16 points on 6-of-13 shooting, but Kristaps Porzingis was still absent as the Knicks lost 118-108 to the Timberwolves at Target Center.
Jeff Teague was rusty once again (3-11 FG, 1-6 3P), but overall played a solid game with four steals and eight assists. He wasn't matched up with Porzingis one-on-one very often, but he was able to largely dominate Enes Kanter and Kyle O'Quinn. The Knicks fall to 19-23, 10th in the East.
The Knicks placed seven players in double figures, led by Jarrett Jack with 18 points.
The Knicks were the hot-shooting team in the first half.
Jamal Crawford's three-pointer - he was fouled on the play but missed the free throw - extended Minnesota's lead to 19 but the Knicks rallied to within 113-102 with 2:43 to play. He scored 11 points in six first-half minutes, making 5 of 6 shots, including a 3-pointer.
He scored his first basket on a 20-footer form the right wing with 20 seconds left in the first quarter. It put the Wolves within two, 57-55, going into half.
Still, the Knicks shot 13-for-19 in the quarter, with the Wolves staying close thanks to the Wolves scoring seven points on three Knicks turnovers in the quarter.
The lead was still eight after Wiggins' three-point play midway through the quarter.