Start by heating the olive oil in your Dutch oven or large stockpot over medium-high heat. Add the beef chunks in batches, making sure not to overcrowd the pan. Sear the beef until it’s browned on all sides. Transfer the beef to a plate and set it aside.
Reduce the heat to medium and add the diced onions to the pot. Cook them until they’re translucent and fragrant, about 5 minutes. Add the minced garlic and cook for another minute, stirring frequently to prevent burning.
Toss in the carrots, celery, and potatoes. Stir well to coat them in the flavors from the pot. Next, return the beef to the pot and add the diced tomatoes, tomato paste, thyme, basil, and bay leaves. Pour in the beef broth and stir to combine everything.
Bring the mixture to a boil, then reduce the heat to low. Cover the pot and allow the soup to simmer for about 1.5 hours, stirring occasionally. This slow cooking process ensures your beef turns tender, and the flavors meld beautifully.
About 20 minutes before the soup is done, stir in the green beans, corn, and peas. These vegetables cook quickly, so adding them later prevents them from becoming mushy.
Taste the soup and adjust the seasoning with salt and pepper as needed. Remove the bay leaves before serving. Ladle the soup into bowls, and enjoy it with some crusty bread or crackers for a complete meal.