The honor squads, chosen by a North American media panel, saw NBA Most Valuable Player selection Durant of Oklahoma City a unanimous selection with 125 points, one more than James.
Joining them on the All-NBA First Team were Chris Paul of the Los Angeles Clippers, James Harden of the Houston Rockets and Joakim Noah of the Chicago Bulls.
Noah and Harden made the select lineup for the first time in their careers. It was the fourth appearance for Paul, the fifth by Durant and eighth First Team nod for James.
Durant averaged a career-best 32.0 points as well as 7.4 rebounds and a career-high 5.5 assists this season for the Thunder.
By claiming a fourth scoring crown, Durant shares third on the all-time list, three behind Wilt Chamberlain and six behind Michael Jordan’s record 10 scoring titles.
James shot a career-high 56.7 percent from the field this season, the seventh campaign in a row in which his shooting accuracy has improved.
James leads the two-time defending champion Heat against the San Antonio Spurs in the NBA Finals that open Thursday.
Noah ranked sixth in the NBA with 11.3 rebounds a game and added 1.51 blocked shots and 1.24 steals a game.
Paul led the NBA with 10.7 assists and 2.48 steals a game while averaging 19.1 points and 4.3 rebounds as well for the Clippers, who won a team-record 57 games.
Harden finished fifth in the NBA with 25.4 points a game and added 6.1 assists and 4.7 rebounds. He also ranked fifth in the NBA in minutes played at 38 a game.
The All-NBA Second Team included French guard Tony Parker of San Antonio and Stephen Curry of Golden State, Clippers forward Blake Griffin, Minnesota forward Kevin Love and Houston center Dwight Howard.
The All-NBA Third Team included Portland’s Damian Lillard and LaMarcus Aldridge, Phoenix guard Goran Dragic, Indiana’s Paul George and Charlotte’s Al Jefferson at center.