Follow these steps to create your Smoky Paprika Rubbed Beef Tenderloin with Roasted Root Vegetables:

1. Preheat the Oven: Set your oven to 425°F (220°C) to prepare for roasting.

2. Prepare the Beef Rub: In a small bowl, mix together smoked paprika, garlic powder, onion powder, salt, and black pepper.

3. Season the Tenderloin: Pat the beef tenderloin dry with paper towels. Rub the olive oil all over the surface and then coat with the paprika spice mixture, ensuring it is evenly covered.

4. Prepare the Vegetables: In another bowl, toss the carrots, parsnips, sweet potato, and red onion with olive oil, salt, and pepper until well coated.

5. Roast the Vegetables: Spread the seasoned vegetables on a baking sheet in a single layer. Place them in the preheated oven and roast for about 25-30 minutes, or until they are tender and slightly caramelized.

6. Sear the Beef: While the vegetables are roasting, heat a skillet over medium-high heat. Add a tablespoon of olive oil and sear the tenderloin on all sides until browned (about 4-5 minutes per side).

7. Roast the Beef: After searing, transfer the beef to the oven alongside the vegetables. Roast until the internal temperature reaches your desired level of doneness (125°F for medium-rare, 135°F for medium), about 20-25 minutes depending on thickness.

8. Rest the Meat: Once the beef is cooked, remove it from the oven and let it rest for 10-15 minutes. This allows the juices to redistribute, ensuring a tender cut.

9. Slice and Serve: After resting, slice the beef tenderloin into medallions. Serve it alongside the roasted root vegetables.

10. Garnish: Optionally, sprinkle fresh thyme or rosemary over the dish for added flavor and presentation.

These steps will guide you through the process of creating this incredible meal that your loved ones will rave about.