Existing Blues tributes to Bob Dylan:
(click titles for more info)
various artists
Tangled Up In Blues - Songs Of Bob Dylan / Songs Of Bob Dylan: All Blues’d Up!....(1999)
It Takes A Lot To Laugh, It Takes A Train To Cry -- Taj Mahal
Gotta Serve Somebody -- Mavis Staples
Lay Lady Lay -- Isaac Hayes
Everything Is Broken -- R.L. Burnside
Pledging My Time -- Luther "Guitar Jr." Johnson
I'll Be Your Baby Tonight -- John Hammond
Ballad Of A Thin Man -- James Solberg
Million Miles -- Alvin Youngblood Hart
Watching The River Flow -- Leon Russell
Wallflower -- The Holmes Brothers
All Along The Watchtower -- Larry McCray
One Too Many Mornings -- The Band
various artists
Blues On Blonde on Blonde....(2003)
Rainy Day Women #12 & 35 -- Brian Stoltz
Most Likely You Go Your Way and I'll Go Mine -- Sue Foley
Leopard-Skin Pill-Box Hat -- Walter Trout
Visions Of Johanna -- Anders Osborne
Pledging My Time -- Duke Robillard
Just Like A Woman -- Eric Bibb
Stuck Inside of Mobile with the Memphis Blues Again
     -- Joe Louis Walker
Obviously 5 Believers -- Sean Costello
One of Us Must Know (Sooner or Later) -- Clarence Bucaro
Temporary Like Achilles -- Deborah Coleman
I Want You -- Cyril Neville
Absolutely Sweet Marie -- C.J. Chenier

The Dylan covers listed here are by artists known primarily as Blues artists.
In some cases, the actual covers may be in other styles, R&B or Gospel for example.
"Blues-Rock" artists are not included (such as Eric Clapton or Johnny Winter, who have their own pages!)

Clarence “Gatemouth” Brown
Long Way Home....(1996)
Don't Think Twice, It's All Right...(with Maria Muldaur & Eric Clapton)

Nappy Brown with The Heartfixers
Tore Up....(1984)
Tonight I'll Be Staying Here With You

Paul Butterfield
The Legendary Paul Butterfield Rides Again....(1986)
The Wandering Kind

Johnny Copeland
Blowin' In The Wind

James Cotton Blues Band
Taking Care of Business....(1971)
Long Distance Operator
entire album included on:
various artists
Chicago Blues Masters Vol. 3....(1997 - CD compilation)

The Crudup Brothers
Franktown Blues....(2001)
Fur Slippers

Theodis Ealey
Meet Me In The Morning

Sue Foley
See:..Collector's Guide to Sue Foley

Roy Gaines
Lay Lady Lay

Buddy Guy
Bring ’Em In....(2005)
Lay Lady Lay

Ted Hawkins
Love You Most of All: 
  More Songs from Venice Beach....(1998 - CD - recorded 1985)
Blowin' In The Wind

The Holmes Brothers
Speaking In Tongues....(2001)
Man Of Peace

Etta James
The Heart and Soul of Etta James....(1983 - LP)
Blowin' In The Wind: The Gospel Soul of Etta James..(2002 - CD -K-Tel)
Blowin' In The Wind

Etta James
Greatest Gospel Hits Volume 2....(2002 - re-recording - CD - Curb)
Blowin' In The Wind

Etta James
Matriarch of The Blues....(2000)
Gotta Serve Somebody
also on:  May Your Song Always Be Sung Again

Paul James
Acoustic Blues....(1989  -Canada)
I Shall Be Free
also on:  May Your Song Always Be Sung, Volume 3

B.B. King
Shake, Rattle & Roll (soundtrack - various artists)....(1999)
Fur Slippers

Freddie King
Larger Than Life....(1975)
Meet Me In The Morning

Freddie King
Live at The Texas Opry House....(rec. 197? - Live)
Texas Flyer....(rec. 197? - Live)
Texas Cannonball Live in Concert....(rec. 197? - Live)
Meet Me In The Morning
Three examples of the many CDs released during the '90s that included mid-70s live versions of  Meet Me In The Morning. 
Little Mike and The Tornadoes
Flynn's Place....(1995)
Rainy Day Women #12 & 35

Taj Mahal & The Hula Blues Band
Hanapepe Dream....(2001)
All Along The Watchtower

Bob Margolin
Hold Me To It....(1999)
Not Dark Yet

Kenny Neal
One Step Closer....(2001)
Walk Out In The Rain

Popa Chubby
Live: Hit The High Hard One....(1996)

Duke Robillard
New Blues For Modern Man....(1999)...(France title: La Palette Bleue)
Love Sick

The Ken Saydak Band
Love Without Trust....(2001)
Watching The River Flow

Susan Tedeschi
See:..Collector's Guide to Susan Tedeschi
Big Mama Thornton
Stronger Than Dirt....(1968)
I Shall Be Released

Walter Trout Band
See:..Collector's Guide to Walter Trout Band

Marva Wright
Gotta Serve Somebody ...(as  “Serve Somebody”)
Knocking On Heaven's Door