Set the roast to come up to room temperature while you heat your oven to 500 degrees F. Once it comes up to temperature, set a timer for 30 minutes. This will help ensure that your oven will maintain the high heat needed to oven sear the roast.
Add the onions to a small roasting pan or 9-by-13-inch baking pan, toss with the oil and season with salt and ground pepper. To give the onions a head start, place in the oven just until softened and lightly golden around the edges, 10 to 15 minutes. Remove the onions from the oven, give them a stir and set aside. Allow the oven to heat for an additional 10 minutes.
Meanwhile, mash together the butter, cracked pepper, rosemary and garlic powder in a small bowl. Season the roast well with salt and evenly spread the butter over top. If using a leave-in digital probe thermometer which I highly recommend, insert it into the center of the roast and set the temperature alarm for 135 degrees F for medium-rare. Place the roast on top of the onions and return to the oven.
Set a timer for 20 minutes for a 3- to 4-pound (1.35- to 1.8- kilogram) roast. If your roast weighs more than 4 pounds (1.8 kilograms), simply cook for 5 minutes per pound of meat, rounding up to the nearest minute. For example, a roast weighing 4.3 pounds will cook for 22 minutes (4.3 pounds multiplied by 5 equals 21.5, rounded up to 22 minutes).
Without opening the oven door, turn the oven off and set a timer for 2 hours, keeping the oven door closed the whole time.
After 2 hours, remove the roast from the oven, transfer to a cutting board, tent with aluminum foil and set aside while you prepare the gravy.
Place the roasting pan with the onions over medium heat and bring to a sizzle. Scatter over the flour, stir in and cook for 2 minutes. Deglaze the pan with the brandy or wine if using, then slowly begin whisking in 2 1/2 cups of the beef stock. Bring to a simmer and cook until thickened, adding more stock if needed to reach your desired gravy consistency.
Slice the roast, transfer the gravy to a gravy boat and serve with horseradish.
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