At 3Arena, Taylor and Cameron created a classic as they traded punches for the duration of a tough 10-round fight that the judges scored 95-95, 98-92, and 96-94.
Although many predicted that Cameron would defeat the legendary Irishman once more after their dominant May encounter, the fight wasn't as easy as the home favourite had claimed.
Taylor's early victories were critical, and the challenger prevailed in a brutal fight when Cameron's left head was cut during a head scratch in the third round.
Katie overcame her first professional loss as a consequence, and she now has the light-welterweight titles from the WBC, WBA, IBF, and WBO to firmly put an end to any discussion of retirement.
Weltmeister in two weight classes? That's really lovely, Taylor said to DAZN.
“The six months I spent waiting for this rematch was the longest of my life.” The rematch was all I could think about all the time.
This is my true homecoming tonight, and I'm so happy I got to perform it with my hometown audience.
It's clear that whoever dismissed me didn't know me well. Never question me.
For this fight, Taylor was in unfamiliar ground because she was the first to make her walk to the ring and an outsider with the bookies.
The 37-year-old slumped to the ground in the first round, shocking the packed crowd, although there was no long ring walk as there was for the Irish fighters' return in May.
Referee Roberto Ramirez called it a slip even though Cameron looked to catch Taylor with a left punch.
In their previous encounter, Taylor had gotten off to a sluggish start. However, in round two, he replied magnificently, using a deft combination to raise the stakes once again.
Not too long afterward, the Olympic champion delivered another impressive round, and, more importantly, one of the competitors' heads collided, cutting Cameron's left forehead.
The seasoned fighter Taylor could now smell blood, and in round four, she continued to punish her opponent's gaping wound which required medical attention by landing additional punches.
Between rounds, Taylor's corner was working feverishly to repair Cameron's cut, but as the 10-round fight approached its second half, Taylor kept winning.
The fight had become quite physical, with frequent shoulder barges and holding exchanges between skilled fighters, even as Cameron attempted to turn the tide with an excellent uppercut in round eight.
At the beginning of the ninth round, Taylor's home audience began chanting her name as the Irish fighter appeared to be tiring out of her 24th professional fight.
Before the last bell rang, both engaged in a thrilling round of trading blows in the middle of the ring.
With the roof removed from the building and Taylor declared the winner by majority decision to take home the light-welterweight belts from the WBA, WBC, WBO, and IBF, all eyes turned to the judges.
It seems like Taylor's idea to have a third fight with Cameron is being discussed.
Following one of the greatest evenings of her incredible career, Taylor said to an overwhelming crowd, “Let's get the trilogy at Croke Park.”