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Heat the oil in a large skillet over medium-high heat. Add the stew meat and brown on all sides. Transfer the browned beef to the slow cooker. Cook in batches.
Add the onion and garlic and cook in the same skillet until the onion is softened, about 3-4 minutes. Add the flour to the skillet and stir well, cooking for another minute.
Gradually whisk in the beef broth. Add the Better Than Bouillon Beef Base, tomato paste, Worcestershire sauce, thyme, bay leaf, salt, and pepper. Stir to combine.
Pour the mixture over the beef in the slow cooker. Add the sliced carrots and potato chunks to the slow cooker.
Cover and cook on low for 8 hours, or until the beef is tender, the potatoes are cooked through, and the vegetables are soft.
About 30 minutes before serving, add the cornstarch mixture and frozen peas to the slow cooker. Allow it to cook for the remaining time until the gravy reaches the desired consistency. Remove the bay leaf.