In a wide heavy-bottomed skillet or saucepan, heat 1 tablespoon of butter and 1 tablespoon of olive oil over medium heat. Add the diced onion and a pinch of salt. Cook, stirring frequently, until the onion is translucent and soft but not browned, about 5–7 minutes. Add the minced garlic and cook 30–45 seconds until fragrant.

Toast rice

Add the Arborio rice to the pan and stir to coat with the fat. Toast the rice, stirring constantly, for 1–2 minutes until the edges of the grains become slightly translucent.

Deglaze with wine

Pour in the dry white wine and stir until it is mostly absorbed by the rice.

Cook risotto by ladling stock

Begin adding the hot stock one ladle (about 1/2 cup) at a time, stirring frequently. Wait until most of the liquid is absorbed before adding the next ladle. Continue this process for 18–20 minutes, tasting occasionally; the rice should be tender with a slight al dente bite and the texture should be creamy. Adjust heat as needed to maintain a gentle simmer.

Season

When the rice is nearly finished (after ~17–18 minutes), stir in the remaining 3 tablespoons butter, grated Parmesan, heavy cream (if using), salt, and freshly ground black pepper. Stir vigorously off the heat for about 1 minute to create a glossy, creamy finish (mantecatura).

Black Truffle & Finish

Prepare truffle

If using a fresh black truffle: gently brush to remove any soil and thinly shave most of it with a truffle slicer or very sharp knife. Reserve a few larger shavings for garnish. If using preserved truffle, slice thinly and reserve some for garnish.

Incorporate truffle

While the risotto is still hot and just after mantecare, stir in about two-thirds of the thin truffle shavings and 1 teaspoon black truffle oil. Fold gently but thoroughly so the truffle aroma infuses the risotto.

Plate and garnish

Spoon the risotto onto warm plates. Top each portion with the reserved truffle shavings, a light drizzle (approximately 1/4 tsp per serving) of truffle oil if desired, and a sprinkle of finely snipped chives. Finish with a small crack of fresh black pepper and an optional extra dusting of grated Parmesan.

Serve

Serve immediately so the risotto remains creamy and the truffle aroma is at its peak.