The implementation of a Superconducting Magnetic Bearing (SMB) system is a promising solution for the problem of friction exhibited in the twisting elements of the conventional ring‐spinning process. This research focuses on the development of a dynamical model with six degrees of freedom of the Permanent Magnet (PM) ring used in an SMB system for a high‐speed ring spinning process. The modeling takes into account the magnetic forces and torques that enable the magnetic levitation of the PM ring. Experimental tests allow the identification of unknown parameters of the model and the validation is done through simulations.