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James averaged a league-best 34.3 points on 58.3 percent shooting from the field, 5.8 rebounds and a team-high 9.3 assists, leading the Cavaliers to a 3-1 week.
James was the only Eastern Conference player to score 30 or more points in each of his games and recorded his first 40-point game of the season in a 105-95 win over Indiana on Nov. 20.
Bryant led the Lakers to a 3-0 week, averaging 29.8 points, second in the Western Conference, 6.7 rebounds and a team-high 6.7assists.
With his free throw at the 6:07 mark of the third quarter on Nov. 19, Bryant moved past Kareem Abdul-Jabbar (24,176 points) for second on the Lakers' all-time franchise scoring list.
Bryant trails only Jerry West (25,192 points). On Nov. 17, Bryant recorded his fourth 40-point game of season in a 106-93 win over Detroit.
Other nominees for the Eastern and Western Conference Players of the Week were Charlotte's Stephen Jackson, Dallas' Dirk Nowitzki, Denver's Carmelo Anthony, Houston's Luis Scola, Memphis' Rudy Gay, New Orleans' Marcus Thornton, New York's Al Harrington, Orlando's Vince Carter and Phoenix's Amar'e Stoudemire.