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A ferrofluid (FF) ring can be compared to a liquid O-ring seal. This liquid ring is used in various applications, such as seals, valves, compressors, dampers, or thrust bearings. Its main advantage is that it maintains tightness and is held in a given place by a magnetic field. One of the main problems is the occurrence of leakage due to pressure differences. This affects the volume of liquid ejected outside the ferrofluid ring region and the value of the leakage itself. The research area of this publication is related to the recognition of how magnetic and rheological properties influence the mechanism of leakage channel formation in a single fluid ring. The purpose was to research basic parameters that characterize the leakage channel, such as the pressure jump value, the cross-sectional area, airflow, and leakage value. The results allow us to understand this problem better and provide insight into the behavior of magnetic particles in a colloid. Studies have shown that an increase in the number of magnetic nanoparticles increases the cross-sectional area of the leakage channel. The opposite effect is observed when a viscosity increase affects fluid resistance to deformation. This study also shows that the share of large particles does not significantly influence the leakage channel. However, the magnetic particles’ viscous drag affects the ability of particles to react to change.