We present a hybrid magnetic bearing based on a novel structure. The X and Y magnetic fields of the bearing are independent of each other, which decreases the magnetic field coupling of the two dimensions significantly. An external rotor structure is designed into the magnetic bearing. We discuss the working principle of the magnetic bearing and derive its mathematical model. Our computer-aided simulation based on finite-element software (Flux 3D) indicates that the magnetic fields in the two directions decouple from each other well, and that our design is practical.