Preheat the oven to 375°F (190°C).
Prepare the beef by trimming excess fat and seasoning it with salt, pepper, garlic powder, and thyme.
Heat olive oil in a large skillet over medium-high heat.
Sear the beef roast on all sides until browned, about 3-4 minutes per side.
Transfer the beef to a roasting pan and surround it with the prepared vegetables (carrots, potatoes, and onions).
Pour beef broth over the vegetables and beef.
Cover the roasting pan with foil and place it in the preheated oven.
Roast for 2 to 2.5 hours, removing the foil during the last 30 minutes.
Check the internal temperature of the beef; it should reach at least 145°F (63°C) for medium-rare.
Let the roast rest for 15 minutes before slicing.
Slice the beef, serve with roasted vegetables, and enjoy.