This paper proposes an eye-diagram estimation method for 8B/10B encoded channel. The stochastic model describes the encoder with respect to probability, which replaces the practical encoder. Because the 8B/10B encoder consists of 3-to-4 and 5-to-6 look-up-table (LUTs), they can be represented as its own stochastic model. For verification, we compare the statistical eye-diagram by the proposed method and the SPICE at the same data rate. The changes on the eye-diagram for both cases are nearly the same by the encoder. Therefore, the proposed method successfully achieves the eye-diagram evaluation for the 8B/10B encoded high-speed channel.