A new gyroscopic sensor using active magnetic bearing (AMB) is studied both theoretically and experimentally. The proposed sensor works as a two-axis gyroscopic sensor and also as a three-axis servo-type accelerometer, which utilizes the control function of AMB. Angular velocities and accelerations are estimated from the control signals for canceling gyroscopic torque and inertial forces acting on the shaft of the AMB. In measuring two-axis angular velocity simultaneously, the control signals canceling inertial torque must be considered in addition to the gyroscopic toque for precise measurement. This paper presents the principles of two-axis angular velocity and acceleration measurement by AMB. In order to investigate the feasibility of the proposed sensor, several basic studies are carried out with a conventional-size AMB.