In a large pot or Dutch oven, heat the olive oil over medium-high heat. Add the cubed steak and sear until browned on all sides. Remove the steak and set aside.
Add the chopped onion to the pot and cook until softened, about 5-7 minutes. Stir in the minced garlic and cook for another minute until fragrant.
Return the seared steak to the pot. Pour in the beef broth and water. Add the chopped carrots, celery, and cubed potato. Stir in the dried thyme, rosemary, salt, and pepper.
Bring the soup to a boil, then reduce the heat to low, cover, and simmer for at least 1 hour, or until the steak is tender and the vegetables are cooked through.
Stir in the frozen peas during the last 5 minutes of cooking.
Taste and adjust seasoning if needed. Serve hot.
Notes
This steak soup is excellent served with crusty bread. You can also add other vegetables like corn or green beans if desired.