The 32-year-old American's time of 19.68 seconds makes him the eighth-fastest 200m runner of all time.
Another former world champion, Tyson Gay, who has only just returned from a one-year drugs ban, was fourth.
Current Diamond League leader Tori Bowie beat a strong field to win the women's 100m in a world lead of 10.80.
Two-time Olympic 200m champion Veronica Campbell-Brown was second in 10.96 with reigning 200m Olympic champion Alysson Felix fifth.
1. Usain Bolt JAM (19.19 seconds)
3. Michael Johnson USA (19.32)
7. Wallace Spearmon USA (19.65)
9. Frank Fredericks NAM (19.68)
Olympic and World 100m champion Shelly-Ann Fraser-Pryce, who has won the Diamond race in this event for the last two years, finished a disappointing sixth.
Olympic champion and world-record holder David Rudisha was unable to follow up his victory in last week's Glasgow Diamond League men's 800m as Nijel Amos stormed to first place in a world lead and meet record time of on one minute 42.45 seconds.
Rudisha, for whom Glasgow was his first race following injury, led until the latter stages of the race and recorded a season's best of 1:42.98 but was unable to hold on and ended up fifth, with Pierre-Ambroise Bosse of France second in a national record 1:42.53 and Kenyan Ferguson Rotich Cheruiyot third.
In a quick race, in which three others ran season's bests, Britain's 2012 Olympic finalist Andrew Osagie was eighth.
In-form Frenchman Pascal Martinot-Lagarde made it four Diamond League wins in 2014 by taking the men's 110m hurdles in a superb time of 12.95, which sets a new national record and all-but seals him this year's Diamond League title.
Gatlin storms to 200m win in MonacoWorld champion Lashawn Merritt was a comfortable winner in the men's 400m in a time of 44.30, with fellow American Gil Roberts second and Isaac Makwala of Botswana third.
Britain's Conrad Williams finished sixth in 45.53.
As expected, Jamaican Kaliese Spencer underlined her tag as favourite to take Commonwealth gold in Glasgow by winning the women's 400m hurdles with ease in 54.09, ahead of American duo Georganne Moline (54.73) and Cassandra Tate (55.07).
Spencer, 27, now has 18 Diamond League Race points, 12 more than second-placed Kemi Adekoya of Bahrain, who came sixth in Monaco in a time of 55.38secs.
Kenya's Asbel Kiprop stated before the 1500m that he would be attempting to break the world-record time of 3:26.00 set by Hicham El Guerrouj in 1998.
The 25-year-old effectively led the race for the majority but was beaten on the last lap by fellow Kenyan Silas Kiplagat in a Diamond League record of 3:27.64.
France's Pascal Martinot-Lagarde is 13 points ahead of David Oliver in the Diamond League 110m hurdles standings with four meetings remaining Ronald Kwemoi ensured it was a Kenyan top three in a world junior record time of 3:28.81.
American Ajee Wilson was strong in the home straight to win the women's 800m in a time of 1:57.67.
In the men's high jump, Russia's Olympic champion Ivan Ukhov and reigning world champion Bohdan Bondarenko, who jumped 2.42m in New York, went head-to-head, with the latter coming out on top to win with a height of 2.40.
The women's 5,000m developed into a three-way race in the final lap between Ethiopian duo Genzebe Dibaba and Almaz Ayana and Viola Jelagat Kibiwot of Kenya.
The Ethiopian duo pulled away with around 350m remaining, with Dibaba taking the win in 14:28.88, less than a second ahead of her compatriot.
A world lead and Diamond League record distance of 15.31m gave Diamond League leader Caterine Ibarguen of Colombia the win in the women's triple jump.
Russia's Yekaterina Koneva (14.89) was second, with Jamaica's Kimberly Williams (14.59) third.
A jump of 8.09 was enough to give China's Jinzhe Li victory in a disappointing men's long jump, in which Britain's Chris Tomlinson came fourth with 7.94.
It was a Kenyan top three in the men's 3,000m steeplechase with Jairus Kipchoge Birech recording a time of 8:03.33 to beat compatriots Conseslus Kipruto and Hillary Kipsang Yego.
Torie Bowie's world lead time of 10.80 seconds in the 100m was 0.06 better than the previous 2014 best mark set by Michelle-Lee Ahye of Trinidad and Tobago on 21 June 
Caterine Ibarguen, the current world champion, now has four of the 10 best distances set in the triple jump this year
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