Floating ring bearing is widely used in turbochargers to undertake the extreme condition of high rotating speed and high operating temperature. It is also the most concerned by the designers and users alike due to its high failure rate and high maintenance cost. Any little clearance change may result in oil leakage, which in turn cause blue smoke or black smoke according to leakage types. However, there is no condition monitoring of this bearing because it is almost impossible to measure the clearance especially the inner clearance, in which the inner oil film directly bears the high speed rotation. In stead of measuring clearance directly, this paper has proposed a method that uses film pressure as a measure to monitor the bearing clearance and its variation. A non-linear mathematical model is developed by using Reynolds equations with non-linear oil film pressure. A full description of the outer and inner film is provided along both axial and radial directions. A numerical simulation is immediately carried out. Variable clearance changes are investigated using the mathematical model. Results show the relationship between clearance and film pressure.