A theoretical investigation has been carried out for stability characteristics of a finite hydrostatic double-layer porous oil journal bearing considering the effect of Beavers-Joseph velocity slip at the porous film interface. A linearized perturbation method has been used to obtain the threshold of stability in terms of critical mass parameter. The effect of slip parameters, eccentricity ratios, bearing feeding parameter, and slenderness ratio on the stability is investigated. Furthermore, nonlinear transient analysis is carried out to determine the system stability by tracing the journal center locus. Several trajectories of the journal center locus have been obtained for different operating conditions and are depicted with the help of graphics.