This study presents the electromagnetic design of a new permanent magnet generator. The machine consists of two rotors at both sides and a stator between them. The rotors have 32 rare earth disc magnets in total and the stator has 24 coils. It is a three-phase machine which produces directly sinusoidal output. According to the finite element analysis (FEA), it can produce 340 W at 1000 rpm for the air gap of 5 mm. While some distortions are seen in the waveform at lower rotor speeds such as 100-200 rpm, the rated values are obtained at 1000 rpm. The simulations prove that the magnetic flux density of 0.6 T can be available in the air gap due to the usage of a core. The machine is easy to maintain and can be converted to a one-phase machine easily after the changes of rotor structures.