The Hall of Famer was asked about the hypothetical matchup during an appearance on "The Tonight Show with Jimmy Fallon" on Monday.
"I like having these conversations, 'cause of course they can never be answered, but yes. The answer is yes. Hell yes," O'Neal said at the 1:40 mark of the video below. "Of course (we'd win) ... 'cause there's only one contributing factor. Who's gonna guard me?"
O'Neal and Bryant won three championships together as members of the Los Angeles Lakers, and James and Davis have helped lead the Lakers to a 29-7 record in their first season as teammates.