Preheat your oven to 325°F (163°C).
In a shallow dish, combine the all-purpose flour, salt, black pepper, and paprika.
Coat each piece of tenderized round steak in the flour mixture, pressing it firmly to adhere.
In a large skillet, heat the vegetable oil over medium-high heat.
Add the coated round steak to the skillet and brown it on both sides, working in batches if necessary. Remove the browned steak from the skillet and set it aside.
In the same skillet, add the sliced onion, minced garlic, and green bell pepper. Sauté until the vegetables are tender and fragrant.
Add the canned diced tomatoes, beef broth, Worcestershire sauce, dried thyme, dried oregano, and bay leaf to the skillet. Stir well to combine.
Return the browned round steak to the skillet, nestling it into the tomato mixture.
Cover the skillet with a lid and transfer it to the preheated oven.
Bake for 2 to 2 ½ hours, or until the beef is tender and the flavors have melded together.
Remove the bay leaf before serving.