Measure and mix the chili seasoning ingredients together in a small bowl (chili powder, cumin, oregano, salt, smoked paprika, garlic powder, and black pepper). Set the seasoning to the side.
Dice the onion, bell pepper, and mince the garlic. Peel the butternut squash, cut it in half, remove the seeds, and chop into ½ to ¾-inch cubes.*
Add the olive oil to a large pot or dutch oven over medium heat. Sauté the onion and bell pepper for 2-3 minutes, until the onion is translucent. Add the garlic and sauté an additional 30 seconds.
Add in the tomato paste and chili seasoning. Stir everything together and allow the spices to cook for 1 minute.
Now add in both cans of diced tomatoes, diced green chiles (optional), and the chopped butternut squash. Stir everything together.
Add in the kidney beans and black beans. Then pour the vegetable broth into the pot. Stir all the chili ingredients together well.
Cover the pot with a lid and bring it up to a boil. Once the pot is boiling, reduce the heat to medium-low and let the chili simmer for 30-35 minutes. Stir the chili occasionally while it’s simmering to prevent any sticking at the bottom.
Once the butternut squash is tender and the chili has thickened, remove from heat and top with your favorite toppings. Enjoy!