The Lambda and Lambda-bar polarizations in muon neutrino charged current interactions have been measured in the NOMAD experiment. The event sample (8087 reconstructed Lambdas and 649 Lambda-bars) is more than an order of magnitude larger than that of previous bubble chamber experiments, while the quality of event reconstruction is comparable. For the Lambda hyperons we observe negative polarization along the W-boson direction which is enhanced in the target fragmentation region: Px(xF < 0) = -0.21 +- 0.04 (stat) +- 0.02 (sys). In the current fragmentation region we find Px(xF > 0) = -0.09 +- 0.06 (stat) +- 0.03(sys). A significant transverse polarization (in the direction orthogonal to the Lambda production plane) has been observed for the first time in a neutrino experiment: Py = -0.22 +- 0.03 (stat) +- 0.01 (sys). The dependence of the absolute value of Py on the Lambda transverse momentum with respect to the hadronic jet direction is in qualitative agreement with the results from unpolarized hadron-hadron experiments. The polarization vector of Lambda-bar hyperons measured for the first time in neutrino interactions is found to be consistent with zero.