How to make Oven Dulce de Leche from a can of condensed milk.
Pre-heat the oven to 350ºF.
Open the can of sweetened condensed milk. Pour the contents in a loaf pan or any smaller baking pan.
Place the loaf pan inside a larger baking pan.
Fill the baking pan with hot water until it is at the same level as the sweetened condensed milk, or higher, to form a water bath to prevent scorching.
Cover the loaf pan with foil.
Place in the pre-heated oven.
Bake for the minimum of 2 and a half hours, up to 4 hours. The longer you bake, the thicker and darker it will be.
Stir a few times during baking. Also, make sure to replenish the water from the water bath as it evaporates.
Let it cool down completely before consuming and serving.
Store covered, in the fridge for up to 15 days. Store packaged tightly in the freezer for 1 to 2 months.
Quantity: You can bake more than one can's worth of sweetened condensed milk at a time. The more condensed milk you bake, the longer it might take to get to the desired point. Also, you may need a larger pan than a loaf pan depending on how much you are making.
Scorching: To prevent scorching, stir occasionally. Also check on the water bath, and replenish with more water as it evaporates.
Lumpy: The Oven Dulce de Leche recipe tends to produce a lumpy dulce de leche. To fix that, you can process the dulce de leche in the food processor or blender, once it is at room temperature.
Thickness: It's hard to obtain a really thick dulce de leche with the oven method, because for the dulce de leche to be really thick it will have to bake for a really long time, which will cause a lot of scorching and burning bits of condensed milk in the dulce de leche. For a really thick dulce de leche, I recommend these methods: pressure cooker, slow cooker, stove top.