A homopolar magnetic actuator is configured to exert controllable radial forces on a body adapted to rotate around an axis. The actuator comprises at least three radial magnetic pole assemblies distributed at some distances from each other along the axis, each including a plurality of poles adjacent to an actuator target on the body. Permanent magnets are used to induce bias magnetic fluxes in the assemblies with polarities alternating from assembly to assembly but remaining the same around the rotational axis. Having several small bias fluxes distributed between several pole assemblies instead of a large single bias flux facilitates designing an actuator with a high aspect ratio. A control coil around each pole can induce a control magnetic flux in the poles. These control fluxes affect magnetic flux distribution around the actuator target, resulting in magnetic forces exerted on the target.