The paper presents an analytical theory for a disk-shaped Hall plate having three peripheral contacts and a point contact at the center. The central contact is modeled as a Corbino source. Its potential function contains a multivalued function. On the boundary, besides the exit contact, the positions of the other two (sensing) contacts were determined in such a way as to maximize the Hall voltage. The numerical results show that, in the case of this type of sensing element (referred to as the Hall-Corbino element), the Hall voltage is of the same order as that corresponding to a Hall disk having only peripheral contacts.