A micromachined rotating gyroscope with electromagnetically levitated rotor (MRGELR) is proposed. The working principle of the MRGELR is based on the momentum conservation of a frictionless levitated rotor. The levitation, stability and rotation are analyzed through finite element software. The choice of suitable sized coils and micro-rotor is important for the stable levitation of the micro-rotor. The fabrication process of the MRGELR is detailed based on MEMS technology. For a micro-rotor with a diameter of 2.2 mm and a thickness of 20 µm, a rotation speed of 800 rpm is obtained in atmosphere and 4000 rpm in a vacuum package. The test shows that except for air slip damping, electromagnetic damping is another important factor that resists further increasing of the rotation speed. A resolution of 3 • s −1 is obtained in the experiment when the rotation speed is 4000 rpm.