Grill, Oven Broil or Pan-Sear. Ribeye is a rich and beefy cut that is best cooked over high heat. The easiest way to cook ribeye is on the grill, but you can also cook it in a pan or in the oven. The most important thing to remember when cooking ribeye is to use high heat so that the outside of the steak cooks quickly while the inside remains juicy and tender. Season with salt and pepper. Then use a stainless steel, carbon steel or cast iron pan with a light oil on high heat to quickly sear each side for approximately 1 to 2 minutes. Then transfer the entire pan into a pre-heated 180 C oven for 7 to 10 minutes for a perfect medium rare. After coming out of the oven, do not poke, cut or slice the steak until it has rested for at least 5 minutes so the juices have time to redistribute.