A novel flux control magnetic suspension system that places control plates beside the magnetic source (permanent magnet) is proposed. In a conventional flux-path control magnetic suspension system, the control plates were inserted between the magnetic source and the suspended object (floator). In contrast, the control plates were placed beside the magnetic source in the proposed system. In such a configuration, the effective gap becomes larger than in the conventional system. Basic characteristics of the proposed magnetic suspension system were studied both numerically and experimentally. The numerical analyses show that the attractive force acting on the floator increases as the position of the lateral ring-shape control plate increases. The variation of the attractive force is sufficient for the stabilization of the suspension system. It is also shown that lateral force can be generated by dividing the plates into halves and moving them differentially. The predicted characteristics are confirmed experimentally in a fabricated apparatus with a three-axis force sensor and a gap adjustment mechanism.