Cameron won the DGA Feature Film Award 12 years ago for epic love story Titanic and he's nominated for the prize again for his sci-fi blockbuster Avatar.
Bigelow - who divorced the filmmaker in 1991 - is a first-time nominee, earning the nod for her war film The Hurt Locker.
Lee Daniels (Precious: Based on the Novel Push by Sapphire), Jason Reitman (Up in the Air) and Quentin Tarantino (Inglourious Basterds) have also been nominated for the Guild prize.
TV, documentary and commercial nominations will be announced on Friday (08Jan10).
The 62nd annual awards will be presented at a Los Angeles banquet on 30 January (10).