Prepare all the vegetables by chopping the tomatoes, cucumber, bell pepper, onion, and mincing the garlic.
In a blender or food processor, combine the chopped tomatoes, cucumber, bell pepper, onion, and garlic.
Add the tomato juice, olive oil, red wine vinegar, salt, and pepper to the mixture in the blender.
Blend until smooth and well combined. For a chunkier texture, pulse the blender a few times instead of blending continuously.
Taste the gazpacho and adjust the seasoning with more salt and pepper if needed.
Transfer the gazpacho to a large bowl or pitcher, cover, and refrigerate for at least 2 hours to allow the flavors to meld and chill.
Serve the gazpacho cold in individual bowls, garnished with fresh basil or parsley if desired.