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4.7 from 405 votes
Perfected Millionaire's Shortbread Recipe
Prep Time
1 hr
Cook Time
35 mins
Total Time
1 hr 35 mins

A dessert so rich you have to name it Millionaire's Shortbread! Also known as Caramel Squares, this dessert from my childhood has three decadent layers of shortbread, caramel, and chocolate.

Course: Dessert
Cuisine: Irish
Servings: 16 squares
Author: Gemma Stafford
Shortbread Crust:
  • 1 cup (8oz/225g) butter , room temperature
  • 2/3 cup (5oz/142g) granulated sugar
  • 2 cups (10oz/284g) all-purpose flour
  • 1/2 teaspoon salt
Caramel filling:
  • 2 (14oz) cans sweetened condensed milk
  • 2 tablespoons (1oz/28g) butter
  • 1 1/3 cup (8oz/225g) milk chocolate , chopped
For the Shortbread Crust:
  1. Preheat the oven to 350°F (180°C) then butter and line an 8-inch (or 9-inch) square pan. Set aside.

  2. In a large bowl, using an electric handheld mixer, cream together the butter and sugar until light and fluffy.
  3. Add in the flour and salt and mix until the dough comes together. Press into the pan until leveled.

  4. Bake for roughly 32-35 minutes or until lightly browned on top. Set aside to cool completely.

For the Caramel Filling:
  1. Place the sweetened condensed milk and butter in a heavy-bottomed saucepan. Bring to a simmer over medium-low heat while whisking constantly.

  2. Continue to simmer over low heat until the mixture thickens and turns into a light amber color, about 15-20 minutes (See above video). Remember to whisk all the time so the caramel won't stick t the bottom of the pot and burn.

  3. Pour the thick golden caramel over the cooled shortbread and spread evenly. Allow to fully cool at room temperature for about 2-3 hours.

For the Chocolate Layer:
  1. Melt the chocolate and pour over the caramel. Smooth until leveled. Allow setting at room temperature for the chocolate to harden and cut into 16 squares using a warm knife. Store any leftovers at room temperature in an airtight container for 5 days.