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Butterscotch Caramel Cheesecake

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  • 1 and 3/4 cups graham cracker crumbs, finely crushed
  • 1/3 cup butter, melted
  • 1/4 cup granulated sugar
  • 1/4 cup pecans, finely chopped


  • 11 oz Nestle Toll House Butterscotch-Flavored Morsels
  • 14 oz Nestle Carnation Sweetened Condensed Milk
  • 4 packages (8 oz each) cream cheese, softened
  • 1/2 cup granulated sugar
  • 1/4 cup all-purpose flour
  • 2 teaspoons vanilla extract
  • 4 large eggs, slightly beaten
  • 1/4 cup caramel ice cream topping
  • Whipped cream


  1. Preheat oven to 325 degrees Fahrenheit. Wrap the outside bottom and side of a 9-inch springform pan with a double layer of heavy-duty foil.
  2. Combine graham cracker crumbs, butter, granulated sugar, and nuts in a medium bowl. Press the crumb mixture onto the bottom and 1 inch up the side of the prepared pan.
  3. Remove 2 tablespoons of butterscotch morsels and set aside for garnish.
  4. Heat milk and remaining morsels in a medium saucepan over low heat until morsels are melted, and the mixture is smooth; remove from heat. Cool to room temperature.
  5. Beat cream cheese, granulated sugar, flour, and vanilla extract in a large mixer bowl until combined. Add butterscotch mixture; beat until smooth.
  6. Add eggs and beat just until combined. Pour into prepared pan.
  7. Place pan in large roasting pan; fill roasting pan with warm water halfway up the side of springform pan.
  8. Bake for an hour and a half or until a two-and-a-half-inch area around the outside edge appears set when gently shaken. Carefully remove the cheesecake from the water.
  9. Pull the foil away from the pan and lift the springform pan out of the foil to the wire rack. Cool on a wire rack for 15 minutes.
  10. Run a knife around the edge of the cheesecake. Cover and refrigerate for 6 hours or overnight.
  11. Remove the side of the pan. Spread caramel topping over top of cheesecake. Pipe the outer edge of the cheesecake with whipped topping. Garnish with reserved morsels, if desired.