Globally, dyes are widely used in the pharmaceutical, food, textile, cosmetics, plastics, leather, paint, ink and paper industries. Eosin is an acidic orange-pink dye and has very strong staining properties. Haematoxylin and eosin Y (H and E) combination is the most common staining and primary diagnostic technique in histo-pathological laboratories. This review mainly discussed the utility of eosin dye in quality control laboratories as an ion pairing agent for drug analysis. Eosin Y is one the most common ion pairing agent and its mono and di anionic forms are capable of interacting with many drug molecules to form colored/fluorescent binary or ternary complexes that can be analyzed with or without extraction by spectrofluorimetry and/or spectrophotometry. Quenching fluorescence and advantages of spectrofluorimetry over spectrophotometry were also discussed. Fluorescence detection greatly enhances the sensitivity and providing a sensitive and relatively inexpensive instrumental method of analysis using eosin Y for various important drugs in pure, commercial dosage forms and biological fluids.