Only peel the zucchini if the skin is tough or bitter. Trim the ends, slice the zucchini, dice the potatoes and onion, and mince the garlic and fresh thyme. Shred the cheese if needed.
In a large heavy-bottomed pot or Dutch oven, heat the olive oil and butter over medium heat. Stir in the onion and zucchini, and sauté for 3-5 minutes until softened.
Stir in the garlic and cook for 1 minute until fragrant. Mix in the minced thyme, salt, and black pepper.
Add the potatoes, then pour in the vegetable broth, stirring to combine. Bring to a boil, reduce the heat to low, cover, and simmer for 20 minutes until the vegetables are soft and cooked through.
Use an immersion blender to blend the soup directly in the pot to your preferred consistency. For chunkier texture, leave some pieces intact. Alternatively, blend in batches with a regular blender, then return to the pot.
Stir in the cheddar until melted, followed by the cream. Remove from heat.
Taste and adjust seasoning if necessary. Serve with a drizzle of cream and croutons.
Video
Notes
To store: Keel any leftovers in an airtight container in the refrigerator for up to 4 days or in the freezer for 2-3 months. Thaw overnight in the fridge, then reheat on the stovetop (over low heat).