Yes, eye is a Scrabble word!
...and is worth 6 points in Scrabble, and 5 points in Words with Friends
eye
Verb
1. Look at
Noun
1. The organ of sight
2. Good discernment (either visually or as if visually)
3. Attention to what is seen
4. An area that is approximately central within some larger region
5. A small hole or loop (as in a needle)
What Scrabble words can I make with the letters in eye?
2 Letter Words