Brosnan arrived on the beach by speedboat
Brosnan took time off from filming Die Another Day to attend the all-night party at the designer's futuristic hillside complex of bubble-shaped concrete pods.
One area was turned into a mock Riviera casino, while there were also two dancefloors and illuminated swimming pools.
Brosnan had arrived in Cannes by speedboat earlier in the day, and confirmed that he would star in another Bond film after Die Another Day.
Asked to sum up the appeal of the action hero, he said: "It's the women, the gadgets, the sex, the romance, the fantasy world, the ultimate hero."
Cardin said Bond was so appealing because he was "full of sensuality, elegance and craziness".
"I never miss his adventures at the cinema," the designer, 79, said.
Lasers
The party was also celebrating the 40th anniversary of Bond's first appearance on film, when Sean Connery starred in Dr No in 1962.
Screens around the party showed clips from the Bond archives and the secret agent's Aston Martin and Jaguar were flown in.
Two bands, including Soul II Soul, entertained guests, while dry ice floated over the hillside and giant green lasers beamed the numbers 007 across the valley.
Brosnan has been in London filming Die Another Day, in which he is due to star alongside Oscar winner Halle Berry.
Due for release in November, it is billed as the biggest Bond movie ever, and will see the secret agent battle a North Korean general.
Saturday also saw the international première of one of the UK's entries in the Cannes competition, 24 Hour Party People.
Artist Tracey Emin, actor Stephen Fry and music mogul Tony Wilson were among those who joined actors and director Michael Winterbottom at the screening.
Sunday's highlights were due to include screenings of short films by directors including Jim Jarmusch, Spike Lee, Wim Wenders and Werner Herzog.