Preheat your oven to 350°F (175°C).
Season the beef roast with salt, pepper, and paprika.
In a roasting pan, heat the olive oil over medium-high heat. Sear the roast until it's browned on all sides.
Add the chopped onions and garlic to the pan. Sauté until they're soft and aromatic.
Pour in the beef broth and red wine, then sprinkle thyme over the roast.
Cover the roasting pan with a lid or aluminum foil.
Place the pan in the preheated oven and roast for about 2.5 to 3 hours or until the meat reaches your desired level of doneness. Use a cooking thermometer for accuracy.
Once done, remove the roast from the oven and let it rest for a few minutes.
Slice the roast, serve with the pan juices, and enjoy!