We present the discovery of ASASSN-18ey (MAXI J1820+070), a new black hole low-mass X-ray binary (LMXB) discovered by the All-Sky Automated Survey for SuperNovae (ASAS-SN). A week after ASAS-SN discovered ASASSN-18ey as an optical transient, it was detected as an X-ray transient by MAXI/GCS. Here, we analyze ASAS-SN and Asteroid Terrestrial-impact Last Alert System pre-outburst optical light curves, finding evidence of intrinsic variability for several years prior to the outburst. While there was no long-term rise leading to the outburst, as has been seen in several other systems, the start of the outburst in the optical preceded that in the X-rays by 7.20 0.97 days. We analyze the spectroscopic evolution of ASASSN-18ey from pre-maximum to >100 days post-maximum. The spectra of ASASSN-18ey exhibit broad, asymmetric, double-peaked H emission. The Bowen blend (λ 4650 ) in the post-maximum spectra shows highly variable double-peaked profiles, likely arising from irradiation of the companion by the accretion disk, typical of low-mass X-ray binaries. The optical and X-ray luminosities of ASASSN-18ey are consistent with black hole low-mass X-ray binaries, both in outburst and quiescence.