Tool eccentricity has a significant impact on machining quality, accuracy, and operation status of machine tool. It is difficult to accurately identify tool eccentricity. In this paper, the mathematical models of instantaneous undeformed cutting thickness and cutting force considering tool eccentricity are determined by theoretical method. Based on the model, the identification method for eccentricity parameters is proposed, and the eccentricity parameters of disc milling cutter is identified. According to the identified parameters, the cutting force is verified. The results show that most of the values of measured cutting forces are greater than the predicted ones considering tool eccentricity. In the future, it is necessary to establish a new cutting force model considering both tool eccentricity and tool wear.