A study on the performance of a ferrofluid based double layer porous rough slider bearing is presented. The stochastic model of Christensen and Tonder has been used to evaluate the effect of surface roughness. The expressions for pressure distribution, load carrying capacity, friction coefficient, centre of pressure and temperature rise are obtained. The effect of double layer increases the load carrying capacity and decreases the coefficient of friction. It is appealing to see that the positive effect of double layered gets enhanced by the magnetic fluid lubrication. The negatively skewed roughness further augments this performance. However, for lower values of magnetization parameter the effect of temperature rise is not that significant. The centre of pressure shifts towards the outlet edge for lower to moderate values of magnetization.