- Sold by Sweet Shalquoir in Majula for 4,500 souls.
- The +1 version is on a corpse at the bottom of Majula's pit. Later on, a second ring can be found on a corpse not too far from the third, and final, Guardian Dragon in Dragon Aerie.
- The +2 version is acquired by defeating the Throne Watcher and Defender in NG+.
The Ring of the Evil Eye acts very similarly to its Dark Souls counterpart, regenerating a small amount of health for every enemy killed. The healing effect is a static number and is not affected by what enemy is killed. The effect of the standard ring is as strong as the Dark Souls version, but the +1 and +2 rings having substantially stronger effect (66% and 166% stronger respectively). This is to contrast with most other rings carried over from Dark Souls, whose effects have been tuned down. Unlike its predecessor, this Ring of the Evil Eye is a very viable mean of maintaining health.
This ring serves as a great way to mitigate self-damaging effects, such as those caused by the Chaos Blade and Immolation, or damage-over-time effects like Poison, provided there are enemies around to kill. However, it is best to replace it with a different ring for boss fights that don't consist of multiple enemies (like Prowling Magus and Congregation or the Skeleton Lords), as it is effectively useless when fighting only one or two tough enemies.