In order to improve the suspension forces within the unit volume produced by radial hybrid magnetic bearing and reduce its manufacturing cost, a novel type of heterpolar radial hybrid magnetic bearing was presented. Compared with the existing magnetic bearing, this magnetic bearing’s structure was compact, volume was smaller, the suspension forces was large within the unit volume, low power consumption and another characteristic. Firstly, the working principle of the novel bearing was analyzed. Then the mathematic model of the bearing was established by the equivalent magnetic circuit method. Therefore, the maximum load capacity of the bearing was listed. Finally, performance of proposed bearing was verified by finite element simulation, finite element analysis and experiment. Results of simulation and experiment had show that this bearing produce the levitation force was large, the linear degree of levitation force with current and rotor displacement was high.