Season the beef chunks with salt and black pepper. Heat 2 tablespoons of olive oil in a large pot over medium heat. Add the beef and brown on all sides. Once done, remove the meat from the pot and set aside.
In the same pot, add the remaining tablespoon of olive oil. Add the chopped onion and minced garlic, sautéing until the onion becomes translucent.
2 pounds beef chuck
Return the beef to the pot. Add the sliced carrots and diced potatoes. Stir in the beef broth, tomato paste, thyme, and bay leaf. Mix well to combine all ingredients.
Salt and black pepper, 2 pounds beef chuck
Bring the stew to a boil, then reduce the heat to low. Cover and let it simmer for about 2 hours, or until the beef is tender and the flavors have melded together. Stir occasionally to prevent sticking.
Once cooked, remove the bay leaf and adjust seasoning with additional salt and pepper if necessary. Serve hot, garnished with fresh parsley if desired. Enjoy your classic hearty beef stew!