An electrical discharge between two ring electrodes embedded in the mantle of a cylindrical chamber is considered, in which the plasma in the anode and cathode regions rotates in opposite directions under the influence of an external axial magnetic field. The associated boundary‐value problem for the coupled partial differential equations describing the azimuthal velocity and radial current‐density fields is solved in closed form. The velocity, current density, induced magnetic induction, and electric fields are presented for typical Hartmann numbers, magnetic Reynolds numbers, and geometry parameters. The discharge is shown to produce anodic and cathodic plasma sections rotating at speeds of the order 106cm/sec for conventional magnetic field intensities. Possible application of the magnetoactive discharge as a plasma centrifuge for isotope separation is discussed.