Preheat your oven to 375°F (190°C).
Cook the elbow macaroni according to package instructions until al dente, then drain and set aside.
In a large skillet, heat the olive oil over medium heat. Add diced onion, bell pepper, and minced garlic. Sauté until they become soft and translucent.
Stir in kidney beans, black beans, diced tomatoes, tomato sauce, chili powder, cumin, paprika, salt, and pepper. Let it simmer for 5-7 minutes.
Combine the cooked macaroni with the chili mixture. Transfer everything to a greased casserole dish.
Sprinkle shredded cheddar cheese evenly on top.
Bake in the preheated oven for 20-25 minutes until the cheese is bubbly and golden brown.