Machine tool rams are important constructional elements found on vertical lathes as well as on many other machines. In most cases, a machine tool ram constitutes an assembly with significant dynamic compliance that affects the machine’s ability to achieve stable cutting conditions. There are various solutions for increasing a machine tool ram’s stiffness and damping. This paper describes an innovative concept of a two-axial electromagnetic actuator for controlled vibration dampers with high dynamic force values. The described solution is purposefully based on the use of standard electric drives. As a result, the size of the actuator is easier to scale to the required application. The solution is designed as a spacer between the end of the ram and the head. The paper presents the actuator concept, construction design, current control loop solution and experimental verification of the controlled vibration damper’s function on the test ram in detail. The presented position measurement concept will enable the use of non-contact position sensors for motor commutation as well as for possible use in vibration suppression control. Applications can be expected mainly in the field of vibration suppression of vertical rams of large machine tools.