Millionaires Shortbread

PREP

15 mins

|

COOK

35 mins

|

SERVES

12

|

DIFFICULTY

Medium

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Chef Jack Ovens
Qualified Chef · 1.63M Subscribers
Updated August 2026

Three layers, done properly, is what separates a good caramel slice from a great one. A buttery coconut shortbread base, a rich condensed milk caramel, and a dark chocolate ganache on top, finished with a scatter of sea salt.

The caramel step needs your full attention — constant stirring is what stops the condensed milk catching and scorching on the bottom of the pan. It only takes a few minutes but it’s worth staying at the stove for.

Chill each layer properly before moving onto the next and you’ll get clean, distinct layers when you slice into it, rather than everything squishing together.

Millionaires Shortbread

DESSERT · BAKING · MEDIUM

Why You'll Love This Caramel Slice

Three proper layers, no shortcuts

Letting the base cool completely before the caramel goes on stops it sliding around instead of setting into a clean, distinct layer underneath.

Stirring the caramel constantly while it cooks is non-negotiable. Condensed milk and sugar catch and scorch on the bottom of the pan fast, so it's worth staying put for those few minutes.

Chilling between each layer is what gives you those clean, distinct slices rather than a messy stack that squishes together the second you cut into it.

Caramel Slice (Millionaires Shortbread)

4.67000 from 3 votes
Prep Time: 15 minutes
Cook Time: 35 minutes
Cooling Time: 1 hour 20 minutes
Total Time: 2 hours 10 minutes
Calories: 379kcal
Servings: 12 Servings

Ingredients

Base

  • 140 g Plain Flour All-Purpose
  • 45 g Desiccated Coconut
  • 65 g Brown Sugar
  • 125 g Unsalted Butter Melted
  • 1 pinch Sea Salt Flakes Optional

Caramel Filling

  • 125 g Unsalted Butter Cubed
  • 65 g Brown Sugar
  • 395 g Sweetened Condensed Milk
  • 1 tsp Vanilla Bean Paste

Chocolate Ganache

  • 200 g High Quality Dark Chocolate
  • 15 ml Sunflower Oil

Optional (Recommended)

  • Sea Salt Flakes Sprinkle on Top of Chocolate

Method

  • Preheat oven to 160°C (320°F). Grease and line a 28cm x 18cm baking pan with parchment paper.
  • In a mixing bowl, combine the base ingredients, mixing well to form a pastry consistency. Add the base mixture to the prepared baking pan and evenly spread with the back of a spoon. Bake for 14-15 minutes or until golden brown on top. Remove and let cool for 20 minutes.
  • Reduce oven temperature to 140°C (280°F).
  • Place a small saucepan over medium-low heat and add all the caramel filling ingredients. Mix to combine and allow the butter to melt, stirring the whole time. Once melted, stir continuously for 4 minutes or until the edges of the saucepan start to simmer. Remove from the heat.
  • Pour the hot caramel over the cooled base and evenly spread it out, completely covering the base. Bake in the reduced-temperature oven for 10-12 minutes or until golden and bubbly, rotating halfway through. Remove and let cool for 15 minutes before placing in the fridge for 30 minutes to 1 hour to completely cool.
  • Once set, place another small saucepan over medium-low heat and add the chocolate ganache ingredients, mixing well until melted and smooth. Remove from the heat. Pour the melted chocolate over the set caramel and evenly spread, completely covering the surface. Sprinkle with sea salt flakes and place in the fridge to set for 1 hour, up to 24 hours.
  • Remove from the fridge and let sit for 10 minutes before serving. To serve, run a knife under hot water and dry it off (this makes it easier and cleaner to slice). Slice into 12-24 pieces and serve.
Chef's Tips
Let the base cool completely before pouring over the caramel — hot caramel poured onto a warm base can cause it to slide instead of setting into a clean, distinct layer.
Stir the caramel constantly while it cooks — condensed milk and sugar scorch and stick to the bottom of the pan quickly, so stepping away even briefly risks burnt spots or graininess.
Chill each layer properly before adding the next, and before slicing — this is what gives you clean, defined layers instead of everything squishing together when cut.
Storage & Reheating
Store in an airtight container in the fridge for up to 5 days, or freeze (well-wrapped) for up to 2 months — thaw in the fridge overnight before serving. These are a chilled bar rather than something to reheat; keep them cold until just before slicing for the cleanest cut, and let them sit at room temperature for a few minutes first if you prefer a softer bite.
Serving 1SliceCalories 379kcalCarbohydrates 40.5gProtein 5.7gFat 22.2gSaturated Fat 13.4gPolyunsaturated Fat 1.5gMonounsaturated Fat 5.71gTrans Fat 0.5gCholesterol 36.1mgSodium 61.4mgPotassium 288.9mgFiber 2.8gSugar 27.5gVitamin A 320IUVitamin C 0.91mgCalcium 115.2mgIron 2.4mg
Common Questions
Why did my caramel turn out grainy or burnt?
This almost always comes down to not stirring constantly. Condensed milk and sugar catch on the bottom of the pan quickly, so keep stirring the whole time it's on the heat rather than stepping away, even briefly.
How do I get clean, neat slices?
Make sure each layer is properly chilled and set before adding the next, and before slicing. Run your knife under hot water and dry it off before each cut — it glides through the layers much more cleanly that way.
Can I make this ahead of time?
Yes, it's a great one to make a day or two ahead. It keeps in the fridge for up to 5 days in an airtight container, and the flavour and texture only get better after a proper chill.
Can I freeze caramel slice?
Yes, wrap it well and it'll keep in the freezer for up to 2 months. Thaw it in the fridge overnight rather than at room temperature, so the layers stay clean and set.
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5 thoughts on “Caramel Slice (Millionaires Shortbread)”

  1. 4 stars
    Easy to make.
    If you’re not a sweet tooth then you’ll find this extremely sweet! I cut mine into bite-size squares which were perfect.

  2. 5 stars
    This recipe is a hit with both adults and children! It’s ideal for bake sales or to bring along to any event. It’s a keeper! Thank you, chef Jack!

4.67 from 3 votes

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