Gather your ingredients. Chop onion, garlic, and bell pepper. Rinse shrimp and cut tilapia into bite-sized chunks.

Heat olive oil in a large pot over medium heat. Add onion, garlic, and bell pepper, sauté for about 5 minutes until softened.

Pour in chicken broth and bring to a boil, then reduce heat to simmer.

Add shrimp and tilapia to the broth. Cook for 5-7 minutes until shrimp is pink and fish flakes easily.

Whisk in cream cheese until melted, then add shredded cheese and stir until smooth.

Taste and adjust seasoning with salt, pepper, and cayenne pepper. Simmer for 2 more minutes.

Ladle into bowls and serve immediately, optionally garnished with herbs or lime.