The theory for a new electromagnetically biased combined radial and axial magnetic bearing is developed. This combined magnetic bearing uses two axial coils to provide the bias flux to the radial and axial air gaps of the combined bearing. One dimensional magnetic circuit model for this combined magnetic bearing is developed and analyzed such that flux densities and magnetic forces can be obtained. Three dimensional finite element model for the bearing is also developed and analyzed. Numerical analysis shows that the calculated magnetic forces from 1D model are well matched with those from the finite element model.