Superconducting magnetic levitation performance, including levitation force and guidance force, is important for the application of high-temperature superconducting maglev. Both of them are not only affected by different arrays of superconductors and magnets, but also by the thickness of the iron shim between permanent magnets. In order to obtain the best levitation performance, the magnetic field distribution, levitation force, and guidance force of a new type of three magnetic hills of permanent magnet guideway with iron shim of different thicknesses (4, 6, and 8 mm) are discussed in this paper. Simulation analysis and experiment results show that the guideway with iron shim of 8 mm thickness possesses the strongest magnetic field and levitation performance when the suspension gap is larger than 10 mm. However, with the decreasing of suspension gap, the guideway with iron shim of 4 mm thickness possesses the best levitation performance. The phenomena can be attributed to the density distribution of flux and magnetization of iron shim.