Fry the bacon in a large pot or Dutch oven until crispy. Remove the bacon and set aside, leaving the rendered fat in the pot.

Add the olive oil to the pot. Add the diced onion and cook until softened, about 5 minutes.

Add the minced garlic and cook for another minute until fragrant.

Pour in the chicken broth and add the dried split peas, thyme, salt, and pepper.

Bring the mixture to a boil, then reduce heat to low, cover, and simmer for 30-40 minutes, or until the split peas are tender.

Remove from heat and partially blend the soup with an immersion blender or in a regular blender (in batches) for a creamier texture. Leave some peas whole for texture.

Crumble the cooked bacon and sprinkle over the soup before serving.