Choose either the boiling or baking method. For the boiling method, place an unopened can of sweetened condensed milk in a large pot and cover with 1-2 inches of water.
2
Bring the water to a boil over medium-high heat, then reduce to a gentle simmer. Keep the can submerged by regularly adding hot water to maintain 1-2 inches of liquid above the can.
3
Simmer for 2-3 hours depending on desired color: 2 hours for a lighter color, 3 hours for a deeper, richer flavor.
4
Alternatively, for the baking method: Preheat the oven to 425°F. Open a can of sweetened condensed milk, pour it into a pie dish, and cover tightly with foil. Place the pie dish in a roasting pan and add hot water to reach about 1 inch depth for a water bath.
5
Bake for approximately 1 hour 45 minutes to 2 hours until the desired color and consistency is reached. The baking method produces a thicker result.
6
Allow the dulce de leche to cool completely. If using the baking method, whisk gently to achieve a smooth, creamy texture.
7
Store unopened cans in the pantry for up to 3 months. Once opened, transfer to a sealed container and refrigerate for up to 2 weeks.
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