Pat the beef stew meat dry with paper towels and season with sea salt and black pepper.
Heat the olive oil in a heavy-bottomed pot or Dutch oven over medium-high heat and sear the beef until browned on all sides, then remove and set aside.
In the same pot, add the pearl onions, sliced carrots, cubed parsnips, and halved mushrooms, sautéing for 5 minutes until they begin to soften.
Stir in the minced garlic and tomato paste, cooking for 1 minute until fragrant.
Pour in the red wine to deglaze the pan, scraping up any browned bits from the bottom with a wooden spoon.
Return the beef to the pot and add the beef bone broth, fresh thyme, and bay leaf.
Bring the liquid to a gentle boil, then reduce the heat to low, cover, and simmer for 90 minutes or until the beef is fork-tender.
Remove the bay leaf and thyme sprig before serving hot in a shallow bowl.