Objective: To justify the choice of tapered magnetic bearing parameters (with combined radial and axial control), to elaborate recommendations, the fulfillment of which will make it possible to significantly improve the characteristics of rotating rotor magnetic levitation of an electric machine. Methods: Analytical methods of traditional electric engineering, as well as the laboratory-based method. Results: It was established that: the control along radial and axial coordinates is independent, despite the fact that steering forces are created by common electromagnets; linear approximation allowing for small oscillations in radial and axial directions the stability of holding rotating rotor is provided by the same laws of control as for a standard circular magnetic bearing; the latter are characterized by a disadvantage, connected with the loss (or deterioration) of radial control in the start-up mode, caused by the common core in axial and radial channels of control; the significant stiffness and steering force may be achieved in the operating area of axial coordinate variation by simultaneously keeping the maximum radial stiffness, sufficient for the start-up mode, by means of purpose-built nonlinear function generators in an electronic circuit diagram of the controlling system; ease of adjustment highly determines the successful bearing setting. Practical importance: The elaborated recommendations will make it possible to design tapered magnetic bearings for high-speed electric machines.