Design/methodology/approach A numerical simulation model for high-speed eccentric rotary lip seals has been developed based on the theory of elastic hydrodynamic lubrication. This model comprehensively considers the coupling of multiple physical fields, including interface hydrodynamics, macroscopic solid mechanics and surface microscopic contact mechanics, under the operating conditions of rotary lip seals. The model takes into account eccentricity and uses the hazardous cross-sectional method to quantitatively predict sealing performance parameters, such as leakage rate and friction force. Findings Eccentricity has a large impact on lip seal performance; lips are more susceptible to wear failure under static eccentricity and to leakage failure under dynamic eccentricity. Originality/value This study provides a new idea for the design of rotary lip seal considering eccentricity, which is of guiding significance for the engineering application of rotary lip seal.