A separating device for separating a mixture of magnetizable and non-magnetizable particles contained in a suspension that is conducted in a separating channel is provided, the separating device including a laminated, ferromagnetic yoke arranged to one side of the separating channel, e.g., a yoke made of iron, having at least one magnetic field generating means for generating a magnetic deflecting field and a separating element arranged at the outlet of the separating channel for separating the magnetic particles, wherein the magnetic field generating means is a coil assembly including coils equidistantly arranged in grooves of the yoke along the separating channel and which can be actuated via a control device such that a temporally variable deflecting magnetic field, substantially deflecting toward the yoke, e.g., a traveling wave, is generated, having substantially field-free regions passing over the entire length of the separating channel.