The 8th Tai Situpa, Chokyi Jungne (1700-1774), was born in the province of Alu Shekar. At the age of eight years, Tai Situpa was recognized according to predictions of the 8th Karmapa Mikyo Dorje, Terton Sangye Lingpa, Terton Mingyur Dorje and the 8th Kunzig Shamarpa.

Tai Situpa was taken to Tsurphu monastery for his enthronement. He received all the teachings and empowerments from the 12th Karmapa Changchub Dorje, the 8th Shamar Rinpoche, and the Kathok Nyingmapa Rigdzin Tsewang Norbu. He also studied medicine and astrology with these masters.

In 1727, the 8th Tai Situpa founded the great Palpung monastery near Derge in eastern Tibet. He also built and restored countless other monasteries throughout his life. Palpung Monastery became the main seat of the Tai Situpas, and it was the inspiration for the founding of Palpung Sherab Ling Monastery in India by the 12th Tai Situpa Pema Donyo Nyinjey centuries later.

The 8th Tai Situpa became one of the most famous masters in Tibetan history. He was acknowledged as a supreme scholar who had no equal in the five knowledges. Even as a child, he had the ability of prediction.

Rinpoche became an expert in almost every field from thangka painting and art, to astrology and the Sanskrit, Nepali and Chinese languages. Situ Chokyi Jungne was also a skilled physician and a master of Tibetan medicine. He composed numerous texts on all these subjects and founded his own painting style at Palpung. Due to the hypocrisy that existed in some monasteries and the greed of some teachers, Situ Rinpoche often warned against trying to gain wealth or fame as a teacher. The Tai Situpa encouraged everyone to follow the precepts and be disciplined.

Tai Situpa visited Nepal on pilgrimage and was highly honored there. Once, after a debate with Pandita Jaya Mangola of Kashmir, it was proclaimed by the local Hindus that Tai Situpa must have been blessed by the Lord Shiva, since that was the only way he could have achieved such insight and learning.

The Tai Situpa returned to Tibet and taught throughout the land. He translated many texts from Sanskrit, including prayers to Bodhisattva Tara. Tai Situpa also visited China at the invitation of the Emperor Chi'en Lung (1735-1796) and was highly honored.

Palpung Monastery’s fame reached well beyond the borders of Tibet at this time. The Kangyur and Tengyur were revised, and the Derge Printing Press was founded. Copies and prints of these texts are still in use today due to their quality. Palpung had many other satellite monasteries, even in mainland China, exceeding well beyond a hundred.

The 8th Tai Situpa found and recognized the 13th Karmapa Dudul Dorje, imparting the complete lineage to him.

It is said that the Tai Situpa’s limitless activities were equal to those of Nagarjuna's in India. It was also a common saying at the time that "If all of the other Kagyu monasteries came together, their activity would not be equal to that of Situ Chokyi Jungne!"

While meditating in the lotus posture of a buddha, the Tai Situpa passed away. It was observed that his heart-region retained heat for seven days and there was a strong smell of incense everywhere. Situ Rinpoche predicted his next rebirth before his passing.

His foremost disciples were the thirteenth Karmapa, the tenth Shamarpa, Gyalwang Drukpa Trinley Shingta, Drikung Chokyi Gyalwa, Pawo Tsuklag Gyalwa, Drubtop Choje Gyal, Khamtrul Chokyi Nyima, and Lotsawa Tsewang Kunchab.