  The CP-violating parameter eps'/eps is estimated in a novel way by including
the explicit computation of eps in the ratio as opposed to the usual procedure
of taking its value from the experiments. This approach has the advantage of
being independent from the determination of the CKM parameters Im \lambda_t and
of showing more directly the dependence on the long-distance parameters. The
matrix elements are taken from the chiral quark model approach, the parameters
of which have been recently determined by an updated fit of the CP-conserving
amplitudes entering the \Delta I=1/2 rule. By taking a normal distribution for
the experimental inputs and a flat one for the theoretical uncertainties, it is
found that eps '/eps = (2.5 \pm 0.9) \times 10^{-3} in agreement with the
current experimental data. A more conservative estimate 0.9 x 10^{-3} <
eps'/eps < 5.8 x 10^{-3} is found by considering the smallest and the largest
values obtained by taking a flat distribution for all inputs.
