Prepare the Instant Pot: Press the Sauté button on the Instant Pot and add olive oil.
Sauté the Veggies: Once the oil is hot, add diced onion and red bell pepper. Sauté for about 3-4 minutes until softened. Stir in the minced garlic and cook for an additional 1 minute until fragrant.
Add the Chicken & Spices: Place the chicken breasts in the pot, then season with cumin, chili powder, smoked paprika, salt, and pepper. Stir to combine the spices with the veggies.
Combine the Ingredients: Add the diced tomatoes, black beans, corn, and chicken broth. Give everything a good stir to mix.
Pressure Cook: Close the lid of the Instant Pot and ensure the valve is set to sealing. Select the Manual or Pressure Cook setting and set the timer for 10 minutes.
Natural Release: Once the cooking time is complete, let the pressure release naturally for 10 minutes, then carefully switch the valve to venting to release any remaining pressure.
Shred the Chicken: Open the lid and remove the chicken breasts. Shred them using two forks and return the shredded chicken to the soup. Stir well to combine.
Serve: Ladle the chicken tortilla soup into bowls. Top with tortilla strips, fresh cilantro, sliced avocado, and a squeeze of lime juice.
Notes
Serve the soup in colorful bowls with a lime wedge and crispy tortilla strips for added crunch.