Based on configuration and operation of hybrid magnetic bearings used in an axial direction, the principle of suspension force generation is studied. The flux path is calculated by using an equivalent magnetic circuit. The equation of attraction is derived. Mathematic expressions of force/displacement coefficient, force/current coefficient and the maximum bearing capacity are obtained. A set of design and calculation methods are given, such as those for gap magnetic induction intension, pole area, gas length, electromagnet iron parameters, and permanent magnet parameters, providing reference to applications.