In standing wave acoustic levitation technique, a standing wave is obtained between a source and a reflector. Nodes of the standing wave act as a linear spring to attract the particles towards the pressure nodes, thus particles can be suspended or levitated in air. This operation can be performed on continuous structures as well as in several numbers of axes. In this study an annular acoustic levitation set-up is designed. The set-up consists of two langevin type piezoelectric transducers, two waveguides, an annular plate, an annular concave reflector, a signal generator and a power amplifier. The transducers are activated by harmonic signals produced by a signal generator and amplified by an amplifier to excite the waveguides. The waveguides amplify the vibration amplitude and in turn, excite the annular plate at a bending mode which occurs at a certain frequency. As the plate vibrates in bending mode, it produces acoustical waves in surrounding fluid. Several types of bending modes of the plate are simulated and evaluated. With the right positioning of the reflector, standing waves are formed between the annular vibrating plate and the reflector. It is demonstrated that small particles can be suspended in air at the pressure nodes of the standing wave.