Studies of syllogistic reasoning have demonstrated a nonlogical tendency for people to endorse more believable conclusions than unbelievable ones. This belief bias effect is more dominant on invalid syllogisms than valid ones, giving rise to a logic by belief interaction. We report an experiment in which participants’ eye movements were recorded in order to provide insights into the nature and time course of the reasoning processes associated with manipulations of conclusion validity and believability. Our main dependent measure was people’s inspection times for syllogistic premises, and we tested predictions deriving from three contemporary mental-models accounts of the logic by belief interaction. Results supported recent “selective processing” theories of belief bias (e.g., Evans, 2000; Klauer, Musch, & Naumer, 2000), which assume that the believability of a conclusion biases model construction processes, rather than biasing the search for falsifying models (e.g., Oakhill & Johnson-Laird, 1985) or a response stage of reasoning arising from subjective uncertainty (e.g., Quayle & Ball, 2000). We conclude by suggesting that the eye-movement analyses in reasoning research may provide a useful adjunct to other process-tracing techniques such as verbal protocol analysis.