Pinning effect of flux in type II high temperature superconductor (HTS) can make superconductor be stably suspended in external magnetic field without active controlling. By adopting this passive self-stability, high temperature superconducting magnetic bearing (HTSMB) can realize the high speed relative motion between parts without mechanical friction. HTSMB has been demonstrated fascinating application prospects in rotating machinery, flywheel energy storage system, transportation system and etc. During the past years, the development of HTSMB has made remarkable achievements worldwide. Design ideas, structures and application environments of HTSMB have been expanded accordingly. This paper summarizes typical HTSMB prototypes from the perspective of structural features. A kind of superconducting compound bearing proposed by Xi’an Jiaotong University and its application scheme in liquid rocket are introduced specially. This novel bearing is a combination of HTSMB and fluid film bearing. Based on the development status, issues to be studied and application prospects of HTSMB are discussed. This paper points out that HTSMB should be developed to compound bearing to advance the application process.