Rinse the split peas under cold water and pick out any debris. Set them aside.
Heat a large pot over medium heat. Add the diced ham and cook for 3 minutes until it starts to brown and release some fat.
Add the diced onion and minced garlic to the pot. Stir and cook for 2 minutes until the onion softens.
Add the sliced carrots, dried thyme, bay leaf, salt, and black pepper. Stir to combine.
Pour in the chicken broth and add the rinsed split peas. Bring the mixture to a boil.
Reduce the heat to low, cover the pot, and simmer for 45 minutes. Stir occasionally until the peas break down and the soup thickens.
Remove the bay leaf before serving.