In this paper, we analyze theoretically the magneto-Rayleigh–Taylor instability driven by a rotating magnetic field. Slab configurations of finite thickness are treated both with and without using the Wenzel–Kramers–Brillouin approximation. Regardless of the slab thickness, the directional rotation of the driving magnetic field contributes to suppressing these instabilities. The two factors of the finite thickness and directional rotation of the magnetic field cooperate to enhance suppression, with the finite thickness playing a role only when the orientation of the magnetic field is time varying. The suppression becomes stronger as the driving magnetic field rotates faster, and all modes are suppressed, in contrast to the case of a non-rotating magnetic field, for which the vertical mode cannot be suppressed. This implies that the dynamically alternate configuration of a Theta-pinch and a Z-pinch may be applicable to the concept of Theta-Z liner inertial fusion.