Preheat oven to 425 degrees F. Sprinkle salt and pepper onto the outside of roast then rub into the meat on all sides.
Heat olive oil in a large, oven-safe skillet over medium-high heat. Once oil is hot place tri- tip, fat-side down, in the pan. Cook for 3-4 minutes on each side until brown and seared.
Place in the oven for 20-25 minutes, or until the internal temperature reads at least 135 degrees F, or you reach desired doneness.
Remove from oven and cover with foil, allowing meat to rest for 10 minutes. Cut into slices and serve.