Multiphase flows are of major importance in today's industrial processes as many products originate from gas‐liquid reactions. The hydrodynamics within the wake behind the bubbles is essential as product selectivity is determined by the residence times in these mixing zones. Magnetic resonance imaging (MRI) offers a wide range of options for the investigation of multiphase flows. Here, non‐invasive MRI flow measurements of buoyancy‐driven N2 Taylor bubbles, spatially fixed inside a countercurrent flow of water, are performed. An experimental setup is presented, enabling the generation of Taylor bubbles inside a horizontal bore MRI scanner. Furthermore, a suitable MRI sequence allowing a time‐dependent analysis of the present flow field is described. The obtained MRI results are qualitatively compared to PIV images acquired in the same setup.