Heat the olive oil in a large pot or Dutch oven over medium-high heat. Add the beef chunks and brown them on all sides, approximately 5-7 minutes. Remove the beef and set aside.
In the same pot, add the diced onion and sauté for about 3-4 minutes until translucent. Add the minced garlic and cook for an additional minute until fragrant.
Return the browned beef to the pot; add the carrots, potatoes, beef broth, diced tomatoes, and tomato paste. Stir well to combine all ingredients.
Season with dried thyme, rosemary, bay leaves, salt, and pepper. Bring the stew to a gentle boil.
Once boiling, reduce the heat to low, cover, and let it simmer for about 1.5 to 2 hours, stirring occasionally until the beef is tender.
In the last 10 minutes of cooking, stir in the frozen peas and let them heat through.
Remove the bay leaves before serving. Taste and adjust seasoning as needed.
Notes
Serve the stew in bowls, garnished with fresh parsley. For an extra touch, serve alongside crusty bread for dipping.