This No Bake Millionaire's shortbread with its crunchy shortbread base, fudgy caramel filling and decadent chocolate topping is the ultimate treat. Made with just 6 ingredients it's the perfect no fuss dessert.
You might be familiar with millionaires shortbread referred to as caramel slice or Chocolate caramel squares, however, different names, same deliciousness 🙂
Where some recipes call for baking, I took the cheats way out to share this easy no bake version with you 😉 Super easy to make with no thermometer or oven required.
Three layers of decadence, perfectly set, with no runny caramel or cracked chocolate top. This is truly a great anytime, any day treat.
What makes up No bake Millionaire's shortbread?
Note: While I’ve included the full printable recipe below, this is the section to read if you’re wondering about ingredient substitutions or how these ingredients work in the recipe.

For the shortbread base: A combination of cookies and butter makes up the base.
For the caramel layer: Comprises a combination of butter, granulated sugar and sweetened condensed milk.
Chocolate topping: Melt your favorite plain chocolate, dark or milk with a Tablespoon of coconut or vegetable oil. The oil is the magic ingredient keeping the chocolate set but softer.
This ensures that the chocolate does not crack when cutting the caramel slice into serving portions.
How to make Millionaire's shortbread?
Note: please scroll down to the printable recipe card for the ingredient quantities and full detailed method.
- Make the shortbread base
Finely crush the cookies in a food processor or in a ziplock bag with a rolling pin. Transfer the crushed cookies to a medium-sized bowl. Stir the melted butter into the crushed cookies.
Press the cookie mixture into a lined baking tin and refrigerate while you prepare the caramel filling.

- Make the caramel filling
Gently heat the butter and sugar on medium low until the butter melts and the mixture bubbles.
Add the sweetened condensed milk and bring to a boil (big, slow bubbles will appear on the surface).-4 to 5 minutes.
Whisk or stir constantly. Cook for around a minute more or until the filling has thickened but is still pourable.
Quickly pour and spread the filling over the chilled shortbread base. Distribute the filling evenly by tilting the pan or spread with a spatula.
Chill in the refrigerator for about 45 minutes until set. It's important that the caramel layer is cold before topping with melted chocolate.

- Make the chocolate topping
Melt the chocolate with the coconut or vegetable oil in the microwave and stir until smooth.
Pour melted chocolate over the chilled caramel filling and tilt the pan to coat evenly.
Set in the fridge for about 15 minutes before slicing into portions.

Tips for the perfect No bake Millionaire's shortbread?
- Cookies: Any store-bought or homemade plain cookies can serve as a base for this recipe. My quick, simple choice is usually store-bought shortbread, graham crackers or digestive cookies. I prefer not too sweet cookies for the base because the caramel and chocolate layer provide enough sweet flavour to this recipe.
- Stir the caramel filling constantly: Prevent the caramel from burning by stirring it constantly while on the stove. You might notice a few brown specs caught at the bottom of the pot. This is not a problem and will not affect the taste.
- Avoid cracked chocolate topping when slicing: The addition of coconut or vegetable oil to the chocolate when melting keeps the chocolate soft but set when slicing.
- To get neat slices: Remove from the fridge at least 5 minutes before cutting. Dip a sharp knife into a glass of warm (not hot) water, wipe dry then cut quickly. Repeat before cutting each slice. The knife should not be too hot, just warm or the chocolate will smear into the caramel as you slice the squares.

Enjoy ♥
No Bake Millionaire's shortbread
Ingredients
For the Shortbread base
- 2â…“ cups crushed shortbread cookies See note 1
- â…“ cup melted butter
For the caramel filling
- 7 Tablespoons butter
- ¼ cup white granulated sugar
- 395 g / 14oz sweetened condensed milk 1 can see note 2
For the chocolate topping
- 1 cup chopped chocolate
- 1 Tablespoon coconut or vegetable oil see note 3
Instructions
- Grease and line an 8 inch (20cm) square baking pan with baking/parchment paper. Allow an overhang of the baking paper for ease of removal.
Shortbread base
- Finely crush the cookies in a food processor or in a ziplock bag with a rolling pin.
- Transfer the crushed cookies to a medium-sized bowl.
- Stir the melted butter into the crushed cookies and mix until well combined. see note 4
- Press the cookie mixture into a lined baking tin and refrigerate while you prepare the caramel filling.
Caramel filling
- Gently heat the butter and sugar on medium low until the butter melts and the mixture bubbles.
- Add the sweetened condensed milk and bring to a boil (big, slow bubbles will appear on the surface) 4 to 5 minutes
- Whisk or stir constantly. Cook for around a minute more or until the filling has thickened but is still pourable. See note 5
- Immediately pour and quickly spread the filling over the chilled shortbread base. Distribute the filling evenly by tilting the pan or spread with a spatula.
- Chill in the refrigerator for about 45 minutes until set.
- It's important that the caramel layer is cold before topping with melted chocolate.
Chocolate topping
- Melt the chocolate with the coconut or vegetable oil in the microwave or stove top and stir until smooth. (See my quick guide to melting chocolate below)
- Pour melted chocolate over the chilled caramel filling and tilt the pan to coat evenly. See note 6
- Set in the fridge for about 15 minutes before slicing into portions. See note 7
Quick guide to melting chocolate
- Melt chocolate in the microwave or on the stovetopOn the stovetopRoughly chop the chocolate into small piecesPlace a bowl that’s just big enough to sit on top of a pot of simmering water and add your chopped chocolate and coconut or vegetable oil to the bowl. Make sure the water doesn’t touch the bottom of the bowl. Keep the pot over low heat and stir the chocolate with a rubber spatula.Stir chocolate occasionally as it softens. Do not allow any water to come into contact with the chocolate: You don’t want to risk any water finding its way into your bowl of chocolate. It will cause it to seize making the chocolate unusable, so you want to avoid water touching it.In the microwavePlace chocolate and coconut or vegetable oil in a heatproof bowl and only microwave for 30 seconds at a time, stirring after each time.
Video
Notes
- Any store-bought or homemade plain cookies can serve as a base for this recipe. My quick, simple choice is usually store-bought shortbread, graham crackers or digestive cookies. I prefer not too sweet cookies for the base because the caramel and chocolate layer provide enough sweet decadence to this recipe.
- Ensure that you are using sweetened condensed milk, NOT evaporated milk.
- Melt your favorite plain chocolate, dark or milk with a Tablespoon of coconut or vegetable oil. The oil is the magic ingredient keeping the chocolate set but softer. In addition it prevents the chocolate from cracking when slicing into portions.
- Add a tablespoon extra at a time if you feel that the mixture is too crumbly when combining.
- Stir the caramel filling constantly: Prevent the caramel from burning by stirring it constantly while on the stove. You might notice a few brown specs caught at the bottom of the pot. This is not a problem and will not affect the taste.
- If you prefer a ridged surface instead of a smooth topping: For a ridged chocolate surface, run, a spatula or knife back and forth across the surface as the chocolate thickens
- To get neat slices: Remove from the fridge at least 5 minutes before cutting. Dip a sharp knife into a glass of warm (not hot) water, wipe dry then cut quickly. Repeat before cutting each slice. The knife should not be too hot, just warm or the chocolate will, smear into the caramel as you slice the squares.
Nutrition
If you like this recipe, be sure to check out my other amazing cake recipes
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