The filling starts with sweetened condensed milk, which slowly turns thick and caramel-colored in an oven water bath. Once cooled, it is spread into the prepared crust and chilled before adding the topping.
What You’ll Need
- Sweetened condensed milk. Use two 14-ounce cans. Check the labels carefully, as evaporated milk will give a different result.
- Graham cracker crust. Use one prepared 9-inch crust, ready to fill according to its package directions.
- Whipped topping. Thaw one 8-ounce tub in the refrigerator before spreading it over the chilled filling.
How to Make the Caramel Filling
Preheat the oven to 425°F. Open the condensed milk cans and divide their contents between two oven-safe 8- or 9-inch pie plates. Cover each plate tightly with foil.
Set the plates inside larger roasting pans. Carefully add hot water to the outer pans to reach approximately halfway up the sides of the pie plates, keeping water below their rims.
Bake for approximately 1–1½ hours, until the milk is thick and caramel-colored. Check the water level periodically and replenish with hot water as needed. Carefully lift the plates out of the water bath, uncover away from your face, and whisk the filling until smooth.
How to Assemble the Pie
Let the caramel filling cool until barely warm, then spoon it into the graham cracker crust. Smooth the surface without pressing hard against the crumb crust.
Cover and refrigerate for at least 2 hours, or longer until thoroughly chilled and firm enough to portion. Spread the thawed whipped topping over the caramel layer and keep refrigerated until serving.
Tips for Serving Neat Slices
Give the filling plenty of chilling time. A pie chilled overnight is convenient for serving the next day, though the filling will retain a soft, creamy texture.
Use a sharp knife and wipe it clean between cuts. Slide a pie server underneath each portion to support the graham cracker base as you lift.
Frequently Asked Questions
Can I use prepared dulce de leche?
Yes. Substitute the same total weight of thick prepared dulce de leche for the condensed milk and skip the caramel cooking step. Choose a thick, spoonable product for the filling.
Why is my filling too soft?
The milk may need more cooking time to become sufficiently thick, or the assembled pie may need longer chilling. Check the filling’s texture before transferring it to the crust.
Can I make the pie ahead?
Yes. Assemble and chill the caramel-filled crust the day before serving, then add the whipped topping once the filling is cold.
Does the crust need baking?
Follow the instructions for your prepared crust. If baking is required, let it cool completely before adding the filling.
3-Ingredient Caramel Pie Recipe Card
A chilled graham cracker pie filled with caramelized sweetened condensed milk and finished with whipped topping.
- Prep time — About 15 minutes
- Cook time — Approximately 1–1½ hours
- Cooling time — Until the filling is barely warm
- Chill time — At least 2 hours, or until thoroughly chilled
- Servings — 8
Ingredients
- 2 cans (14 ounces each) sweetened condensed milk
- 1 prepared 9-inch graham cracker crust
- 1 tub (8 ounces) whipped topping, thawed
Instructions
- Preheat the oven to 425°F. Prepare the graham cracker crust according to its package directions and cool if necessary.
- Open both cans of sweetened condensed milk. Pour one can into each of two oven-safe 8- or 9-inch pie plates. Cover tightly with foil.
- Place each plate inside a larger roasting pan. Carefully pour hot water into the outer pans until it reaches approximately halfway up the sides of the plates, below their rims.
- Bake for approximately 1–1½ hours, until thick and caramel-colored. Check periodically and replenish the water with hot water as needed.
- Carefully remove the plates from the water baths. Uncover cautiously and whisk the caramelized milk until smooth. Let cool until barely warm.
- Spoon the filling into the graham cracker crust and spread evenly. Cover and refrigerate for at least 2 hours, or longer until thoroughly chilled and firm enough to portion.
- Spread the thawed whipped topping over the chilled filling. Slice and serve cold.
Recipe Notes
- Always empty the condensed milk into baking dishes before heating.
- Keep the water bath from drying out during baking.
- The filling should be thick before assembly and will remain creamy after chilling.
- Keep the finished pie refrigerated.
- Preparation, cooking, and chilling times are estimates.