Heat the olive oil in a large pot over medium heat. Add the onion, garlic, and ginger, and cook until softened.
Add the red curry paste and cook for another minute.
Add the butternut squash, vegetable broth, and coconut milk. Bring to a boil, then reduce heat and simmer until the squash is tender, about 20 minutes.
Use a blender to puree the soup until smooth. Season with salt and pepper to taste.