Are you running vCenter? If so just use vMotion.
If you are not using vCenter and you don't want to set one up you can simply copy all the VM files over to the new host and re-register it (using the vSphere client browse the datastore, select the .vmx file and register). Be careful to shut it down first and make sure you change the IP, or at least delete the VM on the source host after you have copied and tested to avoid having it get restarted and creating a duplicate IP. Note that when you power on the VM, after the copy, the vSphere client may ask you if you copied or moved the VM.
You could also use the OVF Tool (VMware OVF Tool).