The network announced Wednesday that both performers are nominated for five awards, along with Drake. Pharrell and rising performer August Alsina each have four nominations.
The BET Awards will air live June 29 from the Nokia Theatre L.A. Live.
Beyonce will compete twice for video of the year with the songs "Partition" and "Drunk in Love," which features Jay Z. Her competition includes Pharrell's "Happy," Drake's "Worst Behavior" and Chris Brown's "Fine China."
On Monday, celebrity website TMZ posted a leaked security video that appears to show Beyonce's sister, Solange, attacking Jay Z inside a New York hotel elevator in Beyonce's presence.