Since you're asking for the best way, here's one that works well (best is subjective):
Create an SKNode and set its position to the center of rotation. Add the node that should rotate around that center as child to the center node. Set the child node's position to the desired offset (ie radius, say x + 100). Change the rotation property of the center node to make the child node(s) rotate around the center point. The same works for cocos2d btw.
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