In a mixing bowl, whisk together olive oil, lime juice, soy sauce, chili powder, cumin, garlic powder, onion powder, black pepper, salt, and red pepper flakes until well combined.

Place the steak in a plastic bag or container and pour the marinade over it, ensuring the steak is well coated.

Seal the bag or cover the container and refrigerate for at least 20 minutes, or up to 4 hours for more flavor.