Sort through the lentils and pick out debris, then wash them. Lentils don't need to be soaked for hours like red beans.
Melt the butter in a five-quart saucepan or Dutch oven. Sauté the vegetables until they begin to get tender. Add the V-8 juice, the stock, and the lentils and bring the pot to a boil.
Lower to a simmer. Add the salt, thyme, pepper, bay leaf, and Tabasco. Cover and simmer for two to three hours, or at least until the lentils are tender. Stir occasionally.