In this paper, a new compact active magnetic bearing(AMB) is proposed in which radial and axial bearings are integrated in one bearing unit. It consists of four U-shaped cores circumferentially connected by yokes and two-layer coils for radial and axial controls. For the radial control action, it has the same principle as conventional homopolar AMBs, while for the axial control, it uses the Lorentz force generated by the interaction of the bias flux for radial control and the axial control flux. The proposed structure makes it easy to design a compact AMB because it has no disk for axial control. This paper introduces the proposed structure, principle, and design process based on the magnetic flux analysis. By using a control algorithm with feedforward action to compensate the coupled flux effect, the feasibility of the proposed AMB is experimentally verified.