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1. Eiji Tsuburaya.

2. Shinji Higuchi.

3. Teruyoshi Nakano.

4. Makoto Kamiya.

5. Koichi Kawakita. 

Going a little outside the Godzilla series here:

1) Eiji Tsuburaya - 'Nuff said.

2) Teruyoshi Nakano - The man deserves credit for how resourceful he was in the 1970s. The SFX directors of the series from 1989-2004 would've been at a complete loss as to how to make it work on those budgets. The MechaGodzilla movies are great examples of this. And explosions. Lots of explosions.

3) Shinji Higuchi - I need to note here that although I enjoy his work in Shin Godzilla, I still find his work in the Gamera trilogy more interesting. Specifically Gamera 3. I'm largely putting him here for those movies.

4) Kiyotaka Taguchi - This is probably the most resourceful man working in tokusatsu today. He really knows how to frame shots correctly in this genre--Always putting something in the foreground. Ultraman X and Ultraman Orb are great examples of this. And his work in Love & Peace is nothing short of incredible.

5) Sadamasa Arikawa - The man filled Tsuburaya's shoes beautifully in Godzilla vs. The Sea Monster and Son of Godzilla. His shots were framed more meticulously than his mentor's and he really pushed the sense of scale with these monsters--Hard to do considering his main two films took place on islands.

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You really need to watch the heisei Gamera trilogy of the 90's. I honestly put them above many of the Godzilla films. The tokusatsu effects in all 3 films are gorgeous. Especially in Gamera 3 the revenge of Iris. I honestly don't think there will ever be a better tokusatsu effects film. 

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Fair enough. Although Eiji Tsuburaya is the master of monsters in the special effects department, I have to say you'll find out how good the effects are until you watch those films.