This article proposes a novel flywheel energy storage system incorporating permanent magnets, an electric motor, and a zero-flux coil. The permanent magnet is utilized in conjunction with the zero-flux coil to provide stable suspension and guidance force for the flywheel. Firstly, the structure and principles of the system are elucidated, wherein the permanent magnet is treated as an array of coils to establish an analytical model for magnetic force coupling. Secondly, a three-dimensional finite element model is constructed to compare and validate the accuracy of the analytical model by comparing it with simulation results. Additionally, this study analyzes the coupling process between the magnet and zero-flux coil. Finally, the effects of working height, lateral clearance, and flywheel speed on the flywheel system were investigated by evaluating system suspension performance, guidance performance, and floating resistance ratio as performance indicators. The findings demonstrate that the system possesses a straightforward structure, high energy storage capacity, exceptional suspension performance, and inherent self-stabilization capability. Moreover, at elevated speeds, its magnetic resistance ratio can reach 57.5%, rendering it suitable for practical engineering applications.