A delicious Caramel Fudge, made with butter, golden syrup and sweetened condensed milk. This fudge is also known as Russian Fudge and is perfect for gift giving!
Want more sweet treats? Try no bake bourbon balls, homemade caramel corn, mini baked donuts, or this saltine toffee! Adding cookies to your gift tins too? These lace cookies are perfect when you want something thin, crisp, and different.

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Ohhhhh this stuff is so GOOD! This is caramel fudge recipe is one I’ve been making for years for family and friends. I grew up with it in New Zealand and have continued making it here in the United States. I got the recipe from my Nana, but it’s also in the Edmonds CookBook that was published around 1908!
I love this recipe so much, I actually make a couple of batches, just so I have lots of fudge for everyone who tries it… and wants more (or wants to take some home).
A great edible gift for Christmas or a yummy hostess gift, anyone receiving this will be delighted, I like to make double and triple batches for this very reason.
A word of warning: make sure you have people to give this to. If you have this in your house, you will devour it. All of it.
If you’re making a fudge assortment, add rocky road fudge for the marshmallow-and-nuts crowd.

Kylee’s Notes:
Caramel Fudge involves a few key ingredients, one of them being golden syrup – which is a thick syrup with a very distinctive buttery taste. It’s made by evaporating sugar cane until it thickens and has a rich, toasty and very distinct flavor.
You CAN substitute golden syrup with other things, but it won’t be the same. It’s totally worth hunting it down!
The other key ingredient is sweetened condensed milk, which is easily found in grocery stores.
It’s a very rich, caramel-y, creamy fudge that doesn’t last very long. Mainly because I have to give so much of it away to friends!
Key Recipe Ingredients
Remember: this is just an overview and the why of the ingredients I choose here. The full list of ingredients and amounts is found in the printable recipe card below.
- Sugar. Plain white sugar.
- Milk. Adds creaminess to the fudge and helps dissolve the sugar. Whole milk works best, but 2% is fine too.
- Sweetened Condensed Milk. Adds richness and enhances the caramelized flavor.
- Golden Syrup. Adds depth of flavor and helps keep the fudge soft. If you can’t get it, you can substitute it with light corn syrup or a blend of honey and molasses for a similar effect.
- Butter. I use salted butter, but unsalted can be used.
- Salt. Balances the sweetness and enhances the caramel flavor of the fudge.

How to make Caramel Fudge
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This next part is only a photo tutorial of the recipe steps. The full list of ingredients, quantities and instructions can be found in the printable recipe card below.
- Butter or line an 8×8 baking pan with parchment paper.
- Mix the sugar and milk, and heat until sugar dissolves.
- Add condensed milk, butter, salt, and golden syrup. Stir until butter has melted.
- Bring to a boil, and stir constantly to ensure that it doesn’t burn (don’t worry if little specks of brown occur, just keep stirring!!)
- Use a good quality thermometer, you need to boil the fudge until it hits “soft ball stage”, or 240 degrees F.
- Remove from the heat, let it cool a few minutes, then using an electric hand mixer, beat until smooth, and thick.
- Pour into a buttered (and lined) tin, and allow to cool 5 more minutes before marking into squares.

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Caramel Fudge (Russian Fudge)
Ingredients
- 3 cups white sugar
- 1/2 cup milk
- 1/2 cup sweetened condensed milk
- 4 1/2 ounces butter
- 1/8 teaspoon salt
- 1 tablespoon golden syrup
Directions
- Generously butter an 8×8 baking tin.
- Put 3 cups white sugar and 1/2 cup milk into a saucepan, heat gently over a low heat, stirring constantly until sugar dissolves.
- Add 1/2 cup sweetened condensed milk, 4 1/2 ounces butter, 1/8 teaspoon salt, and 1 tablespoon golden syrup. Stir until butter has melted.
- Bring to a boil and continue boiling until the soft ball stage (240°F), stirring constantly to prevent burning.
- Remove from heat. Cool slightly. Using a hand held electric mixer, beat until thick.
- Pour into the buttered tin.
- Mark into squares. Cut into pieces when cold.
- Devour.
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Nutrition Facts
Disclaimer
Nutritional information is an estimate and provided to you as a courtesy. You should calculate the nutritional information with the actual ingredients used in your recipe using your preferred nutrition calculator.





























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