In this Letter we report an experimental study of fully developed anisotropic magnetic turbulence in a laboratory plasma. The turbulence has broad (narrow) spectral power in the perpendicular (parallel) direction to the local mean magnetic field extending beyond the ion cyclotron frequency. Its k[see symbol] spectrum is asymmetric in the ion and electron diamagnetic directions. The wave number scaling for the short wavelength fluctuations shows exponential falloff indicative of dissipation. A standing wave structure is found for the turbulence in the minor radial direction of the toroidal plasma.