This easy Condensed Milk Caramel only requires one ingredient, yet comes out just as delicious as any store-bought, restaurant, or homemade version. Use any of the methods below to create delicious caramel you’ll want to put on everything. Perfect for the upcoming holidays!
This yummy condensed milk caramel is made by boiling sweetened condensed milk until it gets creamy and has a decadent flavor. Below, you’ll find easy ways to make caramel in the slow cooker and oven. This rich caramel lasts up to a week in the fridge, so you can use it for multiple recipes or savor it!
Here are some other yummy recipes you can make with sweetened condensed milk: Pumpkin Pie with Sweetened Condensed Milk, Edible Pumpkin Cookie Dough, or this Pumpkin Cream Cold Brew Recipe.
Table of Contents
Why You’ll Love This Recipe
- 1 ingredient – With only one ingredient, this recipe is simple, easy, and budget-friendly.
- Easy – This recipe only requires a pan, a slow cooker (or oven), a whisk, and some water.
- Multiple methods – If you don’t have a slow cooker, you can easily make this condensed milk caramel in the oven.
- Creamy – Once the caramel is cooked, it’s deliciously creamy and thick.
- Decadent – The sauce caramelizes in the pan, creating a rich consistency and flavor.
- Versatile – You can use this yummy dulce de leche sauce for various desserts.
Ingredients & Substitutions
- Condensed Milk: Ensure you use sweetened condensed milk for this condensed milk caramel recipe, not other types of milk. It is thick and very sweet, which helps create the caramel. Condensed milk is different from evaporated milk, which won’t work.
Complete list of ingredients and amounts is located on the recipe card below.
How to Make Sweetened Condensed Milk Caramel
Quick Overview
Slow Cooker
- Pour milk into pan.
- Cover with foil.
- Whisk.
Oven
- Preheat oven.
- Pour milk into pan.
- Bake.
Step by Step Instructions
Slow Cooker
Avoid getting water in the sauce by using a cake pan, not a pie plate/pan.
Step 1: To make the condensed milk caramel slow cooker recipe, pour the sweetened condensed milk into a 6-inch metal cake pan (ensure it fits in your slow cooker). Cover tightly with foil, tucking the foil into the lip around the edge of the cake pan to ensure it is tight.
Step 2: Place the cake pan into the slow cooker.
Step 3: Boil some water and fill the slow cooker with enough water to go up the side of the pan but not touch the foil. You want the water to go up as high as the condensed milk. If the cake pan floats, place a small ramekin gently on top of the foil to weigh it down.
Step 4: Place a paper towel over the top of the slow cooker and cover with the lid. The paper towel prevents water from dripping on top of the foil. Cook on HIGH for 4 hours or low for 7-8 hours. Every hour, check the water level and add more boiling water as needed since it will evaporate. You can also replace the paper towels if needed. Try to limit the amount of time the lid is off because heat will escape.
Step 5: Carefully remove the cake pan from the slow cooker using tongs and oven mitts.
Step 6: Remove the foil and whisk the caramel until it is smooth. It might look a little lumpy at first, but whisking should remove any lumps. Add warm water or heavy cream to thin the caramel to the desired consistency.
Oven
Only fill the water up enough to cover the condensed milk.
Step 1: Preheat oven to 425 degrees. Pour the sweetened condensed milk into a 6-inch metal cake pan or a pie pan. Cover tightly with foil, tucking the foil into the lip around the edge of the pan to ensure it is tight.
Step 2: Place the cake pan in a roasting pan.
Step 3: Boil some water and fill the roasting pan with enough water to go up the side of the cake pan but not touch the foil. You want the water to go up as high as the milk. If the cake pan floats, place a small oven-safe ramekin gently on top of the foil to weigh it down.
Step 4: Bake for 2 hours. Check the water level occasionally and add more as needed while it bakes. After 2 hours, if it is not dark enough, bake for another 30 minutes.
Step 5: Carefully remove the cake pan from the roasting pan using tongs and oven mitts.
Step 6: Remove the foil and whisk the caramel until it is smooth. It might look a little lumpy at first, but whisking should remove any lumps. Add warm water or heavy cream to thin the caramel to the desired consistency.
How To Use Condensed Milk Caramel
This delicious condensed milk caramel sauce is versatile, so you can use it as a topping for nearly any decadent dessert, bake with it, drizzle it over fruit, etc. Here are a few ideas:
- Add it to Easy Dutch Oven Monkey Bread
- Spoon some caramel over Pumpkin Snickerdoodle Bars with Cream Cheese Glaze
- Use it as an ice cream topping along with whipped cream for No Egg Vanilla Ice Cream
- Create caramel apples with this condensed milk caramel recipe
- Make desserts like banoffee pie with a graham crackers pie crust and caramel
- Use it for dipping apples
Expert Tips
- Wrap tightly with foil. Ensuring the foil is wrapped tightly around the caramel means you won’t have to worry about any water splashing in, which can make the sauce thin.
- Whisk. A whisk is the key to smooth homemade caramel sauce, as it helps eliminate any lumps.
- Store in the fridge. When making this condensed milk caramel, you’ll need to refrigerate it so it stays good for longer. You can keep it in the fridge for 5-7 days.
Additions & Variations
- Add a pinch of salt to make a salted caramel. Add the salt to the condensed milk caramel once you pull it out of the slow cooker or oven. Taste it as you add salt to ensure it’s not overly salty.
- Try citrus zest. Add some orange or lemon zest to the caramel if you prefer a more complex taste. Stir it in once the caramel is out of the oven/slow cooker.
- Splash some vanilla into the caramel. Adding vanilla to this cooked milk caramel sauce can help balance out the flavors and make it taste richer. Put 1 tsp of vanilla into the caramel after it’s out of the slow cooker/oven. Since the vanilla extract is mainly alcohol, it will evaporate if you add it while the caramel is cooking.
Recipe FAQs
The quickest way to make condensed milk caramel is by microwaving it in a microwave-safe bowl until it turns golden brown. Then, blend it with an immersion blender. Allow it to cool fully, and you have ready-to-use caramel.
Yes, you can boil a can of condensed milk to turn it into caramel. It will take about three hours. As a note, there is a possibility that the can will burst if the water level decreases and leaves the metal exposed. So, I recommend using one of the methods noted above instead.
You can make caramel with this method, but I do not recommend it as the can may burst.
Instead of boiling, you should simmer condensed milk for about 20 minutes in a pan on the stovetop. It will get thicker and have a golden-brown color when it’s ready. Now, you know how to make caramel from condensed milk on the stove!
Yes, it needs to be refrigerated. It should last in the fridge in a container for up to one week. I keep mine in a glass jar, so it’s easy to use as needed.
More Dessert Recipes
Shop my Amazon Storefront!
If you try this recipe, please leave a star rating in the recipe card below and/or comment! I always appreciate your feedback. Follow me on Pinterest, Facebook & Instagram.
Sweetened Condensed Milk Caramel
Ingredients
- 1 14-ounce can sweetened condensed milk, like Eagle Brand*
Instructions
Slow Cooker
- To make the condensed milk caramel slow cooker recipe, pour the sweetened condensed milk into a 6-inch metal cake pan (ensure it fits in your slow cooker). Cover tightly with foil, tucking the foil into the lip around the edge of the cake pan to ensure it is tight.1 14-ounce can sweetened condensed milk, like Eagle Brand*
- Place the cake pan into the slow cooker.
- Boil some water and fill the slow cooker with enough water to go up the side of the pan but not touch the foil. You want the water to go up as high as the condensed milk. If the cake pan floats, place a small ramekin gently on top of the foil to weigh it down.
- Place a paper towel over the top of the slow cooker and cover with the lid. The paper towel prevents water from dripping on top of the foil. Cook on HIGH for 4 hours or low for 7-8 hours. Every hour, check the water level and add more boiling water as needed since it will evaporate. You can also replace the paper towels if needed. Try to limit the amount of time the lid is off because heat will escape.
- Carefully remove the cake pan from the slow cooker using tongs and oven mitts.
- Remove the foil and whisk the caramel until it is smooth. It might look a little lumpy at first, but whisking should remove any lumps. Add warm water or heavy cream to thin the caramel to the desired consistency.
Oven
- Preheat oven to 425 degrees. Pour the sweetened condensed milk into a 6-inch metal cake pan or a pie pan. Cover tightly with foil, tucking the foil into the lip around the edge of the pan to ensure it is tight.1 14-ounce can sweetened condensed milk, like Eagle Brand*
- Place the cake pan in a roasting pan.
- Boil some water and fill the roasting pan with enough water to go up the side of the cake pan but not touch the foil. You want the water to go up as high as the milk. If the cake pan floats, place a small oven-safe ramekin gently on top of the foil to weigh it down.
- Bake for 2 hours. Check the water level occasionally and add more as needed while it bakes. After 2 hours, if it is not dark enough, bake for another 30 minutes.
- Carefully remove the cake pan from the roasting pan using tongs and oven mitts.
- Remove the foil and whisk the caramel until it is smooth. It might look a little lumpy at first, but whisking should remove any lumps. Add warm water or heavy cream to thin the caramel to the desired consistency.
Notes
- Condensed Milk: Ensure you use sweetened condensed milk for this condensed milk caramel recipe, not other types of milk. It is thick and very sweet, which helps create the caramel. Condensed milk is different from evaporated milk, which won’t work.
- Wrap tightly with foil. Ensuring the foil is wrapped tightly around the caramel means you won’t have to worry about any water splashing in, which can make the sauce thin.
- Whisk. A whisk is the key to smooth homemade caramel sauce, as it helps eliminate any lumps.
- Store in the fridge. When making this condensed milk caramel, you’ll need to refrigerate it so it stays good for longer. You can keep it in the fridge for 5-7 days.
Nutrition
Nutrition information is automatically calculated, so should only be used as an approximation.
