Place large soup pot on stove. Add 5 water and green split peas to the pot.
Turn burner on medium high and bring to a boil.
Turn off burner. Cover pot. Let sit for 2-3 hours.
Add ham bone and 2-3 large bay leaves to the pot. Turn heat on medium high, once at a boil, turn on low and simmer for 2-3 hours. Stirring occasionally.
Add potato, onion, and carrots to the pot. Simmer for 1-2 more hours stirring occasionally.
Remove ham and bone from pot. Cut up ham pieces and add back into pot.
Remove bay leaves. Add salt and pepper to taste.
Serve, refrigerate for up to a week, or freeze.