#1 Preheat your oven to 325°F #2 In a large ovenproof pot or Dutch oven, cook the chopped bacon over medium heat until it's brown and crispy. Remove the bacon and set it aside #3 In the same pot, heat the olive oil over medium-high heat. Sauté the beef in batches, brown and set aside #4 Add the chopped onion and sliced carrots to the pot and sauté for a few minutes until they start to soften. Add the minced garlic and cook for another minute #5 Sprinkle the flour over the vegetables and stir well to coat. Add the tomato paste and stir for a minute or two #6 Pour in the red wine, bring to a simmer, scraping up any browned bits from the bottom of the pot #7 Return the browned beef and cooked bacon to the pot. Add the beef broth and bring the mixture to a gentle simmer #8 Cover the pot and transfer it to the preheated oven. Let it cook for about 2-2.5 hours, or until the beef is tender #9 Add the mushrooms and pearl onions to the beef stew during the last 30 minutes of cooking #10 Season the Beef Bourguignon with salt and pepper to taste. Remove the thyme sprigs and bay leaves. Garnish with chopped fresh parsley and serve hot.