Preheat oven to 400F.
Press the tofu for 10-15 minutes to remove some of the excess water. If you don't press the tofu, simply wrap in a clean towel and soak up some of the water. You may need to bake it for a few minutes longer.
Whisk together the olive oil, tomato paste, low sodium soy sauce, nutritional yeast, smoked paprika, garlic powder, onion powder and a pinch of salt and pepper until a smooth paste has formed.
Crumble the block of tofu and use a spatula to coat in the tomato paste mixture. Stir until the tofu is coated.
Spread out evenly on to a parchment lined baking tray- don't over crowd the pan or it'll take longer to bake.
Bake for about 25-30 minutes, tossing every 10 minutes. Keep in an eye on it during the last 10 minutes so it doesn't burn.
Remove the tofu from the oven and serve immediately or let cool and store in an airtight container for up to 5 days.