Preheat your oven to 350°F (175°C) with the rack positioned in the center.

Grate one yellow onion and wring out excess moisture using a clean kitchen towel.

In a large mixing bowl, combine grated onion, ground lamb, ground beef, minced garlic, dried oregano, cumin, garlic powder, thyme, salt, pepper, and olive oil. Mix thoroughly.

Transfer the meat mixture to a food processor and pulse for about 2 minutes until paste-like.

Firmly press the meat mixture into a 9x5-inch loaf pan for even distribution.

Bake for approximately 50-60 minutes until the internal temperature reaches 165°F (74°C).

Let the Gyro Meat cool for 20-30 minutes before slicing.

Optional: Fry the sliced Gyro Meat in a skillet until crispy, about 2-3 minutes per side.