The booster pumps at the depths of 3000 m in wellbores for pressure boosting operations has emerged as an innovative approach in the extraction of petroleum and natural gas. To accommodate the high temperatures and highly corrosive conditions found downhole, as well as to enhance equipment reliability, this paper presents a comprehensive study on the design of a magnetic torque permanent magnet levitation bearing specifically tailored for a type of downhole booster pump. Initially, the structural configuration of the permanent magnet levitation bearing was meticulously designed to ensure stable operation in these harsh environments. By integrating the technical specifications of the downhole booster pump with the installation requirements of intelligent oil and gas pipelines, a permanent magnet thrust bearing was developed that can endure unidirectional axial loads of up to 1000 N, while maintaining axial clearance within the 0–0.5 mm range. Subsequent simulation analyses were performed to explore the magnetic field distribution and to assess the relationship between axial load capacity and displacement, thereby confirming the soundness of the bearing’s static design. Additionally, rotor dynamics simulations of the compressor shaft were conducted to examine the dynamic characteristics of the magnetically supported rotor during high-speed operation, providing a quantitative evaluation of the permanent magnet levitation bearing’s effectiveness in maintaining rotor stability.