In conventional high speed test track systems, there exist some problems such as serious skid wear and sharp oscillation of the skid. Normal conductive electromagnet technology was used to solve these problems. A design process which was suitable for both electromagnetic suspension and hybrid suspension was put forward for the electromagnet structure, taking the ratio of levitation force to gravity as the optimization objective. The equivalent magnetic circuit model of the electromagnet was established, and the preliminary design was completed for electromagnetic suspension and hybrid suspension schemes based on the design requirements of the levitation system. Both structures were further optimized using the Ansoft finite element simulation software. By analyzing the design parameters of both schemes, it was shown that when the magnetic pole section of electromagnet was square, the ratio of levitation force to gravity was the highest; with the addition of permanent magnets, the volume and weight of electromagnets were greatly reduced, the ratio of levitation force to gravity was largely improved, the effective load of the system was increased, and the power loss was reduced.