Eye of round steak can be braised or put into a slow cooker to release the juices and make it more tender; it is not recommended that the eye of round steak be grilled. Eye of round steak is a cut of steak that is dry and somewhat chewy; grilling the steak will often make it drier.
Eye of round steaks are usually purchased and cooked because they are an extremely economical beef option. They provide the flavor of the beef that is desired in steaks, but the texture is sometimes less desirable. The key to cooking a tender and juicy eye of round steak is to cook it properly. It is a good idea to marinate the steak to help tenderize it. Due to the makeup of the eye of round steak, it is not recommended that a tenderization through hammering method be used. When the steak is marinated overnight, extra juices will be added into it. Once it has been marinated, it can be put into a slow cooker to help keep the juices in it. It should not be overcooked in the slow cooker because it will get dry and will become less juicy and flavorful.
While eye of round steak is an economical cut of beef, it can also be tough and dry, so the Angus Beef website recommends braising it. To do this, preheat a thin layer of oil in a heavy-bottomed stock pot or Dutch oven over medium-high heat. Season the steak with salt and pepper, or any desired seasonings.
When the oil is heated so it shimmers, place the steak in the pot using tongs. Sear the meat on all sides, including the ends. Remove the steak from the pot, and set aside. Add cut celery, carrots and onions to the pot, letting them caramelize. Add a few tablespoons of tomato paste; cook two to three minutes, then add in red wine to deglaze the pan. Stir to loosen up any browned bits, and cook an additional two to three minutes.
Return the steak to the pot, on top of the vegetables. Add fresh herbs, such as thyme, and a bay leaf. Cover with beef broth or stock so that between 1/3 to 1/2 of the steak is submerged. Place a tight-fitting lid over the pot, and transfer to an oven pre-heated to 175 F. Cook for four to six hours until meat is tender, then serve.