Preheat your oven to 375°F (190°C).
In a large skillet, heat the olive oil over medium heat. Add the diced onion and sauté until translucent, about 5 minutes.
Add the ground beef to the skillet, breaking it apart with a spatula. Cook until browned, about 7-10 minutes. Drain excess fat if necessary.
Stir in the garlic powder, paprika, salt, and pepper. Mix well to combine the flavors.
In a large mixing bowl, combine the sliced potatoes, frozen mixed vegetables, and the cooked ground beef mixture. Gently fold in the cream of mushroom soup until everything is well coated.
Transfer the mixture into a greased 9x13 inch baking dish, spreading it evenly.
Cover the dish with aluminum foil and bake in the preheated oven for 45 minutes.
Remove the foil and sprinkle the shredded cheddar cheese on top. Return to the oven and bake uncovered for an additional 15 minutes, or until the cheese is melted and bubbly.
Once done, remove from the oven and let it cool for about 5 minutes before serving.