This paper concerns the analytical study of the non-isothermal flow of a non-Newtonian power law lubricant through the gap of a conical bearing when an external magnetic field is applied. At first, the more general basic equations of motion, continuity and energy in curvilinear form in the width direction are derived. Then, as a special case, a conical bearing gap is considered. By integrating a modified form of Reynolds equation the bearing characteristics for a non-Newtonian power law lubricant when an external magnetic field is applied are obtained. Numerical results were presented in each of these forms: pressure, temperature and capacity of the conical bearing. The effects of the parameters of the non-Newtonian power law and magnetic field are shown and discussed.