This miraculous Caramel Pie Recipe uses a classic kitchen hack to transform a single can of sweetened condensed milk into rich, golden dulce de leche. Poured into a buttery graham cracker crust and topped with a cloud of whipped cream, it is an impossibly easy dessert that tastes like hours of work with almost zero effort.
Jump to RecipeCaramel Pie Ingredients
The Caramel Center:
- 1 (14 ounce) can Sweetened Condensed Milk: The star ingredient. When boiled in the sealed can, the milk sugars caramelize into a thick, toffee-like spread known as Dulce de Leche.
The Shell & Topping:
- 1 (9 inch) prepared Graham Cracker Crust: A store-bought crust makes this a true “no-bake” style dessert (aside from the can boiling).
- 1 (12 ounce) container Frozen Whipped Topping: Thawed. Cool Whip offers stability and sweetness that balances the intense caramel.

How To Make Caramel Pie
- Prep the Can: Carefully remove the paper label from the can of sweetened condensed milk. Use a scrubber if necessary to remove any glue residue.
- The Water Bath: Place the sealed can on its side in the bottom of a large, deep stockpot. Fill the pot with water until the can is submerged by at least 2 to 3 inches. Crucial Safety Step: The can must be fully covered at all times.
- Boil to Caramelize: Place the pot over high heat and bring to a boil. Reduce the heat to medium-high to maintain a steady, rolling boil. Cook for 4 hours. Check the pot every 30 minutes. If the water level drops near the top of the can, add more boiling water from a kettle to keep it submerged.
- Cool: Turn off the heat. Using tongs, carefully remove the hot can from the water and place it on a cooling rack. Let it sit undisturbed for at least 1 hour. Do not attempt to open a hot pressurized can.
- Fill: Once the can is cool to the touch, open it to reveal the dark golden caramel. Pour and scrape the thick caramel directly into the graham cracker crust, smoothing it into an even layer.
- Chill and Serve: Refrigerate the pie for 2 to 4 hours until the caramel is firm and chilled. Just before serving, spread the thawed whipped topping generously over the caramel.

Recipe Tips
- Safety First: Never let the pot boil dry. If the water evaporates and the can is exposed to direct heat without liquid buffer, the pressure can cause it to explode. Set a timer to check the water level frequently.
- Can Orientation: Laying the can on its side prevents it from rattling excessively during the boil.
- Cooling Time: Opening the can while it is piping hot can cause the pressurized caramel to spray out. Patience during the 1-hour cooling window is mandatory for safety.
- Make Ahead: You can boil the can days or weeks in advance. Store the unopened caramel can in the pantry until you are ready to make the pie.
What To Serve With Caramel Pie
- Sea Salt: A sprinkle of flaky sea salt on top of the caramel layer (before the cream) adds a gourmet touch.
- Chocolate Shavings: Grate dark chocolate over the whipped topping.
- Bananas: Slice fresh bananas over the caramel for a Banoffee Pie variation.
- Coffee: The bitterness cuts the intense sugar of the dulce de leche.

How To Store Caramel Pie
- Refrigerate: Store the finished pie in the refrigerator for up to 3 days. Cover loosely to protect the whipped topping.
- Freezing: You can freeze the pie, but the texture of the caramel becomes very hard and chewy. Thaw in the fridge before serving.
Caramel Pie Nutrition Facts
- Calories: 350 kcal
- Fat: 14g
- Carbohydrates: 48g
- Sugar: 38g
- Protein: 5g
Nutrition information is estimated per slice.
FAQs
Yes. Pour the condensed milk into a pie dish, cover tightly with foil, place in a roasting pan with water (bain marie), and bake at 425°F for 1-2 hours until caramelized. It is safer but requires more cleanup.
Yes! Place the can (covered in water) in a slow cooker on LOW for 8 hours. It yields the same result with less monitoring.
If you boil it for less than 4 hours, you will get a lighter, runnier caramel. 4 hours ensures a dark, sliceable consistency.
Caramel Pie Recipe
Course: DessertCuisine: AmericanDifficulty: Easy10
servings5
minutes4
hours350
kcalA magical 3-ingredient pie featuring dulce de leche made from boiling condensed milk in the can.
Ingredients
1 can (14 oz) sweetened condensed milk
1 graham cracker crust
1 container whipped topping
Directions
- Remove label from can.
- Boil submerged in water for 4 hours (keep covered!).
- Cool can for 1 hour.
- Pour caramel into crust; chill 2-4 hours.
- Top with whipped cream.
- Serve cold.
Notes
- Water must cover can at all times to prevent explosion.
- Cooling allows pressure to release safely.
- Caramel thickens as it chills.
- Add salt for a salted caramel version.
