If you must use the eqnarray environment, there's a package called eqnarray (available here) that at least removes the excessive space around the middle column. Compare:
\documentclass{article}
\usepackage{eqnarray,amsmath}
\begin{document}
\begin{eqnarray*}
A&=&B,\\
C&=&D,\\
E&=&F
\end{eqnarray*}
\begin{align*}
A&=B,\\
C&=D,\\
E&=F
\end{align*}
\end{document}
The package is for LaTeX 2.09, but it might still work.
I notice that, in my example, the eqnarray* and align* are centered very slightly differently (the eqnarray* is less than 1 point to the left of the align*). I'm not sure why. If you use {B,} and {D,} instead of B, and D, in the eqnarray*, the two displays come out centered exactly the same, so I assume that the ending punctuation symbols are causing the problem. (The default eqnarray* appears to have the same issue.)
eqnarray" has been updated and published in tugboat 33:1. this will be accessible only to tug members until spring 2013, but after that it will be open to anyone. – barbara beeton Dec 15 '12 at 17:50eqnarraythen? – masu Oct 29 '13 at 22:43eqnarray(unless for some reason you can't use the amsmath ones). – ShreevatsaR Oct 30 '13 at 04:03alignand friends is at least not obviously better than the use ofeqnarray(unless you find a better way to use them - then add an answer there). – cryingshadow Jan 05 '16 at 13:34alignenvironment isn't great. The solution in such cases, though, is not to resort to a deprecated and generally inferior method (eqnarray). Instead, as the answers to your posting demonstrate, the better solution is to use a method that's more flexible than the basicalignenvironment and fully preserves interoperability with important packages such ashyperrefandcleveref. – Mico Jun 08 '16 at 07:17eqnarray. Two of the links are to general documentation PDFs; one would have to search through the documents to find answers. At present, this isn't really an answer imo. Other people clearly disagree, because they upvoted it; that's their right. – Mars Mar 03 '18 at 17:10eqnarrayproduces spacing that is inconsistent in these three ways" would be helpful. Some of the other answers make reference to spacing problems, but no answers here clearly summarize the spacing problems. – Mars Mar 03 '18 at 17:18alignand the rest of the AMS environments; was that not clear from the second paragraph?) – ShreevatsaR Mar 03 '18 at 17:20