Caramel Slice (Millionaire’s Shortbread)

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5 from 9 reviews

An easy recipe for Caramel Slice (or Millionaire’s Shortbread) using sweetened condensed milk to produce a lovely, thick caramel. Make them more delicious with a touch of sea salt.


For the biscuit base

For the caramel filling

For the chocolate topping


For the biscuit base

  1. Preheat the oven to 180°C (350°F) (without fan).
  2. Line a small baking tin (18 x 28 cm or 7 x 11 inches) with baking paper.
  3. Melt the butter and set it aside to cool slightly.
  4. Place the flour, baking powder, dessicated coconut and sugar into the bowl of a stand mixer.
  5. Using the flat paddle attachment, mix the ingredients together.
  6. Add the melted butter and beat until the mixture is combined.
  7. Place the mixture into the lined baking tin and use your fingers to press it firmly and evenly into the base.
  8. Bake the biscuit base for 12-15 minutes, or until it is lightly golden.
  9. Set the biscuit base aside to cool slightly while you make the caramel filling, but keep the oven turned on.

For the caramel filling

  1. Melt the butter in a medium-sized saucepan over low-medium heat.
  2. Once the butter has melted, add the sweetened condensed milk, golden syrup, vanilla extract and light brown sugar.
  3. Whisk the ingredients together until they are well incorporated.
  4. Turn the heat up to medium-high, and continue whisking until the caramel starts to bubble a little.
  5. Whisk constantly over medium-high heat until the caramel thickens slightly. Make sure you are whisking constantly, otherwise the caramel might start to burn and you will have to start all over again!
  6. The caramel is done when it has thickened to a thick pouring consistency.
  7. When the caramel is cooked, pour it over the biscuit base and use a spatula to evenly distribute it.
  8. Place the baking pan back in the oven for 10 to 12 minutes, or until the edges have firmed slightly. If you give the pan a gentle shake, the centre of the pan should wobble ever so slightly.
  9. Remove the baking pan to a wire rack and let it cool completely.
  10. Once it has cooled, place it into the fridge for at least 30 minutes.

To make the chocolate topping

  1. Melt the chocolate in a bain-marie, or in a heat-proof bowl over a pan of simmering water.
  2. Whisk through the vegetable oil to make the chocolate nice and glossy.

To assemble the Caramel Slice

  1. Take the baking pan out of the fridge and pour the melted chocolate over the top.
  2. Immediately use a spatula to spread the chocolate evenly. As the caramel slice is cold from the fridge, the chocolate topping will start to set quickly.
  3. If you wish to create a rough textured surface like in the photos, place the baking pan back in the fridge for 10-15 minutes for the chocolate topping to set slightly. Drag a spatula back and forth through the cold (but not set) chocolate topping to create the textured surface. If the chocolate topping is not cold enough, you may have to put the tin back into the fridge for another 5 minutes or so.
  4. Once the chocolate caramel slice has set, slice into bars or squares, and sprinkle with sea salt flakes before serving.

Kitchen Notes

Best to ignore the nutritional information for this recipe 😉 Enjoy everything in moderation!

All recipes on this website state temperatures for a regular oven (i.e. a conventional oven without fan). If you have a convection oven with a fan, please consult the manufacturer’s handbook on how to adjust the temperature and baking time accordingly.

To convert from cups to grams, and vice-versa, please see this handy Conversion Chart for Basic Ingredients.