Heat olive oil in a large pot over medium heat. Add the chopped onion and minced garlic. Sauté until the onion becomes translucent and the garlic is fragrant, about 3-4 minutes.
Add the diced tomatoes, tomato sauce, and chicken or vegetable broth to the pot. Stir well to combine. Bring the mixture to a simmer.
Reduce the heat to low and add the softened cream cheese to the pot. Stir until the cream cheese is fully melted and incorporated into the soup.
Add the dried basil, dried oregano, salt, and pepper to the pot. Stir to combine and let the soup simmer for 15-20 minutes, allowing the flavors to meld together.
Using an immersion blender or transferring the soup to a blender, blend the soup until smooth and creamy. Be careful when blending hot liquids.
Return the soup to the pot and heat it over low heat until warmed through.
Serve hot, garnished with fresh basil leaves if desired.