In a medium bowl, mix together the softened cream cheese, oregano, parsley, and basil. Spread mixture in the bottom of a 9-inch pie plate, or a shallow baking dish.
Sprinkle 1/2 cup of the mozzarella cheese and 1/2 cup of the Parmesan cheese on top of the cream cheese mixture. Spread the pizza sauce over all. Sprinkle with remaining cheese, then top with pepperoni, green peppers and olive slices.
Bake uncovered for 25 minutes. Serve hot with toasted baguette slices.