Step 1: Prepare the Prime Rib

1. Season the Prime Rib: Place the prime rib on a baking sheet or large plate. Rub the olive oil over the entire surface of the roast. In a small bowl, combine the kosher salt, black pepper, garlic powder, dried rosemary, and dried thyme. Generously season the prime rib with the spice mixture, pressing it onto the meat to help it adhere. For the best flavor, allow the prime rib to sit at room temperature for 2 hours after seasoning. This helps the roast cook evenly and enhances flavor.
2. Prepare the Herb Butter (Optional): For extra flavor, you can make an herb butter to spread over the roast before searing. In a small bowl, mix together the softened butter, minced garlic, chopped rosemary, chopped thyme, and black pepper. Set aside, but do not apply until after the initial sear.

Step 2: Sear the Prime Rib

1. Preheat the Oven: Preheat your oven to 450°F (232°C) and position the oven rack in the center of the oven.
2. Sear the Roast: Place the seasoned prime rib on a rack in a roasting pan. Insert the pan into the oven and roast at 450°F for 20 minutes. This high-temperature sear locks in the juices and creates a flavorful crust on the outside of the meat. After 20 minutes, remove the roast from the oven briefly. If you’re using the herb butter, carefully spread it over the top and sides of the prime rib at this point.

Step 3: Lower the Temperature and Roast Slowly

1. Adjust the Oven Temperature: Reduce the oven temperature to 325°F (163°C). Return the prime rib to the oven and continue roasting until the internal temperature reaches your desired level of doneness. Use an instant-read meat thermometer to check the internal temperature. Generally, aim for 115°F for rare, 125°F for medium-rare, and 135°F for medium. The roast will continue to cook slightly as it rests, so remove it about 5-10 degrees below your target temperature.
2. Check for Doneness: For a 5-7 lb roast, expect to cook for approximately 1.5-2 hours at 325°F. Check the temperature after the first hour, then every 15 minutes thereafter to ensure it doesn’t overcook. The key to a tender prime rib is to cook it low and slow, avoiding high heat that can make the meat tough.
3. Rest the Roast: Once the prime rib reaches your desired temperature, remove it from the oven and cover it loosely with foil. Let it rest for 15-20 minutes before slicing. Resting allows the juices to redistribute throughout the meat, making it tender and juicy.

Step 4: Carve and Serve

1. Slice the Prime Rib: Use a sharp carving knife to slice the prime rib into thick slices. For the most tender slices, cut against the grain. Place the slices on a serving platter, spooning any pan juices over the meat for added flavor.
2. Serve with Accompaniments: Serve the prime rib alongside classic accompaniments like creamy horseradish sauce, au jus, or a red wine reduction. Garnish with fresh rosemary sprigs or thyme for an elegant presentation.