In this tutorial, discover how to use EPS files in Adobe Photoshop by importing them as Smart Objects to maintain image quality. Step by step tutorial.
Traditionally, EPS was the format used to save silhouetted images with a clipping path, and was used to save multitone images (duotone, tritone, or quadtone).
Edit--> Preferences--> General--> click on Always Create Smart Objects When Placing. Or open it in Illustrator, copy and paste into Photoshop ...