Prepare all ingredients by cutting the beef, chopping the onion, slicing the carrots, mincing the garlic, and quartering the mushrooms.
In a large Dutch oven, heat 2 tablespoons of olive oil over medium-high heat and brown half of the beef cubes for 5-7 minutes. Remove and set aside, then repeat with remaining beef.
Sauté the chopped onion and sliced carrots in the same pot for about 5 minutes, then add minced garlic and cook for an additional minute.
Return the browned beef to the pot, pour in the red wine and beef broth, and stir in the tomato paste, dried thyme, and bay leaves. Bring to a gentle simmer.
Cover the pot and transfer to a preheated oven. Cook for 120 to 150 minutes, adding quartered mushrooms in the last 30 minutes.
Remove from oven, discard bay leaves, and stir in chopped parsley before serving.