In a large pot, heat the olive oil over medium heat. Season the chicken thighs with adobo seasoning and brown them in the pot for about 5 minutes on each side, until golden. Remove the chicken and set it aside.
In the same pot, add the chopped onion, bell pepper, and minced garlic. Sauté until the onions are translucent, about 3-4 minutes. Stir in the sofrito and cook for an additional minute.
Add the tomato sauce, sazón seasoning, salt, and pepper to the pot. Mix well and let it cook for 2 minutes to enhance the flavors.
Pour in the rice and stir to coat the grains with the sauce. Add the chicken broth, the bay leaf, and the browned chicken back into the pot. Bring the mixture to a boil.
Once boiling, reduce the heat to low, cover the pot, and simmer for about 20-25 minutes, or until the rice is tender and has absorbed the liquid. Avoid lifting the lid during cooking.
In the last 5 minutes of cooking, sprinkle the frozen peas and olives over the rice, but don't stir. Replace the lid and let it finish cooking.
Once done, remove the pot from heat and let it sit, covered, for another 5 minutes. Fluff the rice with a fork, garnish with fresh cilantro, and serve hot. Traditional Puerto Rican meals often feature seasoned meats and rice, highlighting the use of fresh ingredients.