Abstract: A structure of a passive magnetic bearing and a method to provide non-contact suspension of a rotor when it rotates above a critical speed are presented. Non-contact suspension is achieved without usage of additional electronic units and external energy supply. The key component of the structure is a radial passive magnetic bearing, which is aimed to provide a unique and stable radial equilibrium position of a rotating above a critical speed disk. This goal is achieved by using the interaction of currents being induced in shortened conducting loops (not superconducting) installed on the disk with axial component of a magnetic field emanated from immovable permanent magnets. Compared to other passive magnetic bearings taking advantage of the interaction of a current induced in conducting loops mounted on the rotor with external magnetic field, the proposed bearing is featured by less strict requirements for the manufacturing accuracy, less frictional losses and better load characteristics.