Is there an equivalent of Scala's Either in Java 8?

There is no Either type is Java 8, so you need to create one yourself or use some third-party library.

You may build such a feature using the new Optional type (but read to the end of this answer):

final class Either<L,R>
{
    public static <L,R> Either<L,R> left(L value) {
        return new Either<>(Optional.of(value), Optional.empty());
    }
    public static <L,R> Either<L,R> right(R value) {
        return new Either<>(Optional.empty(), Optional.of(value));
    }
    private final Optional<L> left;
    private final Optional<R> right;
    private Either(Optional<L> l, Optional<R> r) {
      left=l;
      right=r;
    }
    public <T> T map(
        Function<? super L, ? extends T> lFunc,
        Function<? super R, ? extends T> rFunc)
    {
        return left.<T>map(lFunc).orElseGet(()->right.map(rFunc).get());
    }
    public <T> Either<T,R> mapLeft(Function<? super L, ? extends T> lFunc)
    {
        return new Either<>(left.map(lFunc),right);
    }
    public <T> Either<L,T> mapRight(Function<? super R, ? extends T> rFunc)
    {
        return new Either<>(left, right.map(rFunc));
    }
    public void apply(Consumer<? super L> lFunc, Consumer<? super R> rFunc)
    {
        left.ifPresent(lFunc);
        right.ifPresent(rFunc);
    }
}

Example use case:

new Random().ints(20, 0, 2).mapToObj(i -> (Either<String,Integer>)(i==0?
  Either.left("left value (String)"):
  Either.right(42)))
.forEach(either->either.apply(
  left ->{ System.out.println("received left value: "+left.substring(11));},
  right->{ System.out.println("received right value: 0x"+Integer.toHexString(right));}
));

In retrospective, the Optional based solution is more like an academic example, but not a recommended approach. One problem is the treatment of null as “empty” which contradicts the meaning of “either”.

The following code shows an Either that considers null a possible value, so it’s strictly “either”, left or right, even if the value is null:

abstract class Either<L,R>
{
    public static <L,R> Either<L,R> left(L value) {
        return new Either<L,R>() {
            @Override public <T> T map(Function<? super L, ? extends T> lFunc,
                                       Function<? super R, ? extends T> rFunc) {
                return lFunc.apply(value);
            }
        };
    }
    public static <L,R> Either<L,R> right(R value) {
        return new Either<L,R>() {
            @Override public <T> T map(Function<? super L, ? extends T> lFunc,
                                       Function<? super R, ? extends T> rFunc) {
                return rFunc.apply(value);
            }

        };
    }
    private Either() {}
    public abstract <T> T map(
      Function<? super L, ? extends T> lFunc, Function<? super R, ? extends T> rFunc);

    public <T> Either<T,R> mapLeft(Function<? super L, ? extends T> lFunc) {
        return this.<Either<T,R>>map(t -> left(lFunc.apply(t)), t -> (Either<T,R>)this);
    }
    public <T> Either<L,T> mapRight(Function<? super R, ? extends T> lFunc) {
        return this.<Either<L,T>>map(t -> (Either<L,T>)this, t -> right(lFunc.apply(t)));
    }
    public void apply(Consumer<? super L> lFunc, Consumer<? super R> rFunc) {
        map(consume(lFunc), consume(rFunc));
    }
    private <T> Function<T,Void> consume(Consumer<T> c) {
        return t -> { c.accept(t); return null; };
    }
}

It’s easy to change that to a strict rejection of null by simply inserting an Objects.requireNonNull(value) at the beginning of both factory methods. Likewise, adding support for an empty either would be imaginable.

At the time of writing, vavr (formerly javaslang) is probably the most popular functional Java 8 library. It is pretty similar to lambda-companion's Either in my other answer.

Either<String,Integer> value = compute().right().map(i -> i * 2).toEither();

See Atlassian Fugue. There is a good implementation of Either there.