In a large pot or Dutch oven, heat the olive oil over medium heat. Add the beef stew meat and brown on all sides, about 5-7 minutes. Remove the meat and set aside.
In the same pot, add the diced onion and minced garlic. Sauté until the onion is translucent, about 3-4 minutes.
Return the beef to the pot. Pour in the beef broth and water. Stir to combine.
Add the sliced carrots, chopped celery, diced potato, canned tomatoes (with their juice), frozen peas, thyme, oregano, bay leaf, and season with salt and pepper.
Bring the soup to a simmer, then cover and reduce the heat to low. Allow it to simmer for about 1.5 to 2 hours, stirring occasionally, until the beef is tender and the flavors meld together.
Adjust the seasoning with more salt and pepper if needed. Discard the bay leaf before serving.
Ladle the soup into bowls and garnish with freshly chopped parsley.
Notes
Serve the soup in rustic bowls with a slice of crusty bread on the side for dipping. A sprinkle of fresh parsley on top adds a vibrant touch.