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Odin is known to be one-eyed because of a trade between Mimir and Odin. When Odin asked Mimir for some water in the well, Mimir declined him of giving any water unless Odin gave him an eye. Surprisingly, Odin took one of his eyes out and gave it to Mimir for water. The trade was made and Odin was very happy for the water.

But what did Mimir do with Odin's eye? The source tells nothing about the use for Odin's eye or what happens to it.

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  • The least likely outcome is that it just rotted at the bottom of the well. God's eyes are the rarest possible items after all, and this one in particular. I think Mimir was no fool and fished it out as soon as possible, before some frog or salamander beat him to the greatest magical prize of all time. What happened next one wonders? And that's the point. All myth is open ended and its power and continuity comes largely from inviting mysteries for new explorers. There is an as yet untold tale here, ripe for the telling.
    – Larry Buzbee
    Commented Apr 9, 2022 at 22:20
  • I find it interesting that the three fates of Greek mythology share an eye. There are three Norns which guide our fates. There are some very interesting parallels between the two different cultures.
    – michael
    Commented Dec 26, 2022 at 12:27

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Odin's eye remains at the bottom of Mimir's Well:

I know where Othin's eye is hidden,
Deep in the wide-famed well of Mimir;
Mead from the pledge of Othin each mom
Does Mimir drink: would you know yet more?

Source: Völuspá, the Poetic Edda, translated by by Henry Adams Bellows

The point of the tale is to convey the message that no sacrifice is too great for wisdom. What happens to Odin's eye after it has been thrown into Mimir's Well is not particularly significant.

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