wikiHow Caramel from Sweetened Condensed Milk Recipe Ingredients: * 1 can (14 oz) sweetened condensed milk * Water Instructions: Remove the label from the can of sweetened condensed milk. Do not open the can. Fill a large pot with water and place the unopened can of sweetened condensed milk in the pot. Bring the water to a boil and then reduce the heat to a simmer. Simmer the can of sweetened condensed milk for 2-3 hours. Be sure to keep the can completely submerged in water during the entire cooking process, adding more water as needed to keep the can covered. After 2-3 hours, carefully remove the can from the pot with tongs and set it aside to cool completely. Once the can has cooled, open it and you'll have delicious caramel inside! Note: It's important to not open the can of sweetened condensed milk until it has completely cooled. The caramel can be used immediately or stored in an airtight container in the refrigerator for up to 2 weeks. Page