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Heat vegetable oil in a large pot or Dutch oven over medium-high heat. Add the beef chunks and sear until browned on all sides. Remove and set aside.
Cook the Vegetables:
In the same pot, add chopped onion and bell pepper. Cook until softened, about 5 minutes. Stir in minced garlic and cook for another minute.
Prepare the Sauce:
Sprinkle flour over the vegetables and stir well to coat. Cook for 2 minutes to eliminate the raw flour taste.
Gradually add beef broth, stirring constantly to avoid lumps. Stir in diced tomatoes, tomato paste, soy sauce, ground cumin, dried oregano, paprika, chili powder, salt, and pepper.
Simmer:
Return the beef chunks to the pot along with bay leaves. Bring to a boil, then reduce heat to low. Cover and simmer for 1.5 to 2 hours, or until the beef is tender.
Add Vegetables:
Add diced potatoes and sliced carrots to the pot. Continue to cook, covered, for an additional 30 minutes, or until the vegetables are tender.
Stir in frozen peas if using, and cook for another 5 minutes.
Serve:
Remove bay leaves before serving. Serve the Carne Guisada with warm tortillas, rice, or beans.
Prep Time: 20 minutes
Cook Time: 2 hours 30 minutes
Kcal: 400 per serving
Tips:
For a thicker sauce, you can mash some of the potatoes and carrots into the stew.
Adjust seasoning to taste, and add a splash of hot sauce if you like some extra heat.
