Mesoscale eddies shape the Beaufort Gyre response to Ekman pumping, but their transient dynamics are poorly understood. Climate models commonly use the Gent-McWilliams (GM) parameterization, taking the eddy streamfunction c* to be proportional to an isopycnal slope s and an eddy diffusivity K. This local-in-time parameterization leads to exponential equilibration of currents. Here, an idealized, eddy-resolving Beaufort Gyre model is used to demonstrate that c* carries a finite memory of past ocean states, violating a key GM assumption. As a consequence, an equilibrating gyre follows a spiral sink trajectory implying the existence of a damped mode of variability-the eddy memory (EM) mode. The EM mode manifests during the spinup as a 15% overshoot in isopycnal slope (2000 km 3 freshwater content overshoot) and cannot be explained by the GM parameterization. An improved parameterization is developed, such that c* is proportional to an effective isopycnal slope s*, carrying a finite memory g of past slopes. Introducing eddy memory explains the model results and brings to light an oscillation with a period 2p ffiffiffiffiffiffiffiffiffi T E g p ' 50 yr, where the eddy diffusion time scale T E ; 10 yr and g ' 6 yr are diagnosed from the eddy-resolving model. The EM mode increases the Ekman-driven gyre variance by g/T E ' 50% 6 15%, a fraction that stays relatively constant despite both time scales decreasing with increased mean forcing. This study suggests that the EM mode is a general property of rotating turbulent flows and highlights the need for better observational constraints on transient eddy field characteristics.