Dulce De Leche & Cream Cheese Recipe

Method A — Stovetop water bath (recommended)

Remove the label from the 14 oz can of sweetened condensed milk. Wrap the sealed can in a double layer of aluminum foil to help prevent water ingress. Place the wrapped can upright in a deep saucepan or pot. Pour enough hot water to cover the can by 1–2 inches (about 6 cups, depending on pot size). Bring the water to a gentle simmer over medium heat. Maintain a low simmer (not a rolling boil) and simmer for 2 to 3 hours depending on desired color: 2 hours for a light caramel, 3 hours for a deep amber. Check water level every 20–30 minutes and add boiling water as needed so the can remains submerged. After the time has elapsed, turn off the heat and let the can cool in the water until it reaches room temperature (this can take 2 hours or more) — do NOT open the can while hot. Once fully cooled, unwrap and open the can; the sweetened condensed milk will have transformed into dulce de leche. Transfer to a bowl and whisk smooth if any lumps.

Method B — Slow oven (alternate)

Preheat oven to 425°F (220°C). Pour the sweetened condensed milk into a shallow, rimmed baking dish (a 9x9 or similar). Cover tightly with foil. Place the dish in a larger roasting pan and add hot water to the roasting pan until it reaches halfway up the sides of the inner dish (water bath). Bake 1 to 1¼ hours for light caramel, up to 1¾ hours for darker color, checking and adding water if necessary. Remove from oven and whisk smooth after cooling slightly. (This method produces similar results if you prefer not to handle sealed cans.)

Place the room-temperature cream cheese (8 oz) and softened butter (2 tbsp) in a medium mixing bowl. Using a hand mixer or stand mixer fitted with the paddle attachment, beat on medium speed until smooth and creamy, about 1–2 minutes. Scrape down the bowl.

Add the powdered sugar (3 tbsp), vanilla extract (1 tsp), and a pinch of salt. Beat again on low speed to incorporate, then increase to medium-high and beat until the mixture is light and fluffy, about 1 minute. Taste and adjust sweetness or salt if desired. If the filling is too stiff, add 1 tsp of milk or cream at a time to reach a spreadable consistency.

Transfer the cream cheese filling to a piping bag or bowl for spreading, depending on your intended assembly.

Spoon or spread a generous layer of dulce de leche (about half the can, or to taste) onto your serving base: toast, pancakes, biscuits, cookies, or use as a layer in a dessert. Top with a thick dollop or spread of the prepared cream cheese filling.

If using, sprinkle the crushed graham crackers (2 tbsp) over the filling for added texture. Arrange fresh berries or banana slices on top or alongside (about 1 cup).

Finish with a light sprinkle of flaky sea salt (a pinch) to enhance the caramel notes. For a composed dessert, alternate layers of dulce de leche and cream cheese filling, finishing with dulce de leche and a small spoon of cream cheese in the center, then garnish.

Serve immediately at room temperature, or chill for 15–30 minutes for a firmer filling. Store any leftovers in an airtight container in the refrigerator for up to 4 days (dulce de leche will thicken when chilled; bring to room temperature before serving).