The lifetimes of the $B^+$ and $B^0$ mesons have been measured using fully reconstructed decays. In a sample of ~49600 J/psi -> mu+ mu- decays recorded with the Collider Detector at Fermilab, 148 +- 16 B+ and 121 +- 16 B0 mesons have been reconstructed using the silicon vertex detector. Unbinned likelihood fits to the proper lifetime distributions of these B mesons give tau+ = 1.61 +- 0.16 +- 0.05 ps, tau0 = 1.57 +- 0.18 +- 0.08 ps, and tau+/tau0 = 1.02 +- 0.16 +- 0.05.