I do like Osage Outlaw does. I prefer to have the handle centered in the bow now.
I learned the way George describes. For a 4" handle, mark the center of the bow. Go up 1 1/4" and down 2 3/4" for your handle. Your arrow shelf, arrow rest or arrow pass would be 1 1/4" above the center of the bow.
Now I always make the handle in the center, always have. But my problem is, a while ago I went from drawing to around my chin, like a draw with a anchor point with the index touching the chin or corner of your mouth, to drawing across my chest. I am 1000 times more accurate now that I draw across my chest, and my draw went from maybe 26" to around a comfortable 28" to 30" if I wanna push it. (this is behind my ear, borderline warbow draw, I am not that big of a guy and will stick my bow arm elbow out a good ways to avoid wrist slap). I use this draw now on almost all my bows, except for very heavy short bows, or just short draw bows. When I drew a shorter 26" draw for all bows, the arrow pass would go right above my hand, and since I think my drawing arm was raised a bit to my cheek or mouth, the arrow pass being placed above my hand balanced fine and worked with my centered handle. But now it seems that the bow will tilt if I don't center my arrow pass if I draw across my chest. So my handles end up looking a bit weird, with the leather or wrap ends up around half the handle only in order to center the arrow pass.
I just can't bring myself to make an off set handle bow,... ...which would remedy my weird looking handle I would think, but it just seems so unnatural.