A hydrostatic/hydrodynamic flywheel for a press including a flywheel mounted for rotation about a non-rotating quill. A bronze bushing is disposed between the quill and flywheel. Hydrostatic pad areas are located on the quill opposite the bushing. These pad areas are flooded with pressurized oil or liquid to create a hydrostatic bearing area. During operation, flywheel and bearing rotation cause a hydrodynamic bearing effect to occur. The hydrostatic/hydrodynamic bearing eliminates the need for conventional anti-friction roller or ball bearings, provides indefinitely long life with full-film lubrication, high shock load capacity, high vibration damping, and a high value of radial and tipping stiffness.