A water lubricated rubber thrust bearing is disclosed in which the rubber bearing surface is formed with a plurality of substantially flat bearing surfaces which are positioned adjacent to a mating flat annular metal bearing surface. The rubber bearing surfaces are separated by radially extending water grooves shaped to facilitate the creation of a lubricating film between the rubber and metal surfaces. The rubber surfaces are arranged so that the pressure per unit area is substantially uniform when the bearing is loaded and the effective area of the bearing is at least equal to about one-half of the area of the associated metal bearing surface.