A magnetic bearing assembly having a magnetic portion for simultaneously generating axially and radially magnetic forces and a bearing portion for supporting a shaft upon its rotation is disclosed. The magnetic bearing assembly according to the present invention can be utilized in a motor of a cooling fan to provide the substantially frictionless rotation and the precise position of the shaft. Thus, it requires no lubrication, results in less abrasion and produces low noise, all of which contribute to extend the operating life of the bearing.