Passive magnetic bearing with Halbach array is presented in this paper. The array uses permanent magnets with radial and axial magnetization to augment the magnetic field on one side of the array and cancel it on the other side. The design of the bearing consists of ring-shaped magnets of 60x70 mm and 75x85 mm with different orientation of magnetization. The designed passive magnetic bearing has air gap of 2.5 mm, stiffness 129297 N/m and maximal value of load 200 N. The bearing ensures magnetic levitation and stabilization of rotor in a work point. The paper presents the design of the passive magnetic bearing as well as the experimental setup together with investigation results.