The Eos asteroid family is the third most populous, after Themis and Koronis, and one of the largest non-random groups of asteroids in the main belt. It has been known and studied for decades, but its structure and history still presented difficulties to understand. We first revise the Eos family identification as a statistical cluster in the space of proper elements. Using the most to-date catalogue of proper elements we determine a nominal Eos family, defined by us using the hierarchical-clustering method with the cut-off velocity of 55 m/s, contains some 4400 members. This unforeseen increase in known Eos asteroids allows us to perform a much more detailed study than was possible so far. We show, in particular, that most of the previously thought peculiar features are explained within the following model: (i) collisional disruption of the parent body leads to formation of a compact family in the proper element space (with characteristic escape velocities of the observed asteroids of tens of meters per second, compatible with hydrocode simulations), and (ii) as time goes, the family dynamically evolves due to a combination of the thermal effects and planetary perturbations. This model allows us to explain sharp termination of the family at the J7/3 mean motion resonance with Jupiter, uneven distribution of family members about the J9/4 mean motion resonance with Jupiter, semimajor axis distribution of large vs small members in the family and anomalous residence of Eos members inside the high-order secular resonance z 1 . Our dynamical method also allows us to estimate Eos family age to 1.3 −0.2 +0.15 Gyr . Several formal members of the Eos family are in conflict with our model and these are suspected interlopers. We use spectroscopic observations, whose results are also reported here, and results of 5-color wide-band Sloan Digital Sky Survey photometry to prove some of them are indeed spectrally incompatible with the family.