A self-aligning permanent magnet magnetic bearing comprises an inner ring, an outer ring, a plurality of elongated tile-shaped or rectangular permanent magnets, bearing balls, drive bars and drive rollers, wherein magnetic lines of force of the permanent magnets in sequential arrangement and a radial line of the bearing form small angles, the permanent magnets are mounted in interlayers of the inner ring and the outer ring, the bearing balls capable of rotating and moving radially are arranged between the inner ring and the outer ring, and the drive bars and the drive rollers push the inner ring or outer ring permanent magnets to rotate by certain small angles when the bearing balls move. The self-aligning permanent magnet magnetic bearing is characterized in that like poles of the bearing inner ring permanent magnets are opposite to those of the bearing outer ring permanent magnets, the included angles between the bearing inner ring or outer ring permanent magnets and the radial lineare different, a rotary bearing shaft is arranged at the center of inside of the inner ring permanent magnets, another rotary bearing shaft is arranged at the center of outside of the outer ring permanent magnets, and the permanent magnets can rotate around the rotary bearing shafts to adjust the included angles between the magnetic lines of force of the permanent magnets and the radial line so as to change density of the magnetic lines force in the radial direction, so that magnetic repulsive force of the magnets is changed.