This article makes an effort to present a comparative study on the performance of a Shliomis model-based ferrofluid (FF) lubrication of a porous squeeze film in curved annular plates taking slip velocity into account. The modified Darcy’s law has been adopted to find the impact of the doublelayered porosity, while the slip velocity effect has been calculated according to Beavers and Joseph’s slip conditions. The modified Reynolds equation for the double-layered bearing system is solved to compute a dimensionless pressure profile and load-bearing capacity (LBC). The graphical results of the study reveal that the LBC increases in the case of magnetization, volume concentration and upper plate’s curvature parameter while it decreases with other parameters for both the film thickness profile. A comparative study suggests that the exponential film thickness profile is more suitable to enhance LBC for the annular plates lubricated by ferrofluid, including the presence of a slip. The study shows that the slip model performed quite well and there is a potential for improving the performance efficiency. Besides, multiple methods have been presented to enhance the performance of the above mentioned bearing system by selecting various combinations of parameters governing the system.