Gluten Free Double Caramel Millionaire’s Cake

Chocolate. Caramel. Bananas. Can we agree that this sounds like the makings for one really epic bite? This Gluten Free Double Caramel Millionaire’s Cake is rich in flavor and will make you feel like you won the lottery.

Gluten Free Double Caramel Millionaire's cake

Rich, decadent, tender, moist, and loaded with sticky caramel and creamy Dairy Free chocolate-hazelnut spread, this cake is truly stunning. Besides eating it, the best part is how easy it is to make.

Millionaire’s Shortbread

The inspiration for this luxurious cake comes from caramel shortbread, sometimes referred to as millionaire’s shortbread. Think of it as the OG of Twix. A layer of shortbread topped with a thick layer of caramel, crowned in chocolate. And with this cake? Any side is the right side!

Part of the double caramel in Gluten Free Double Caramel Millionaire’s Cake comes from Lily’s Sweets Salted Caramel Bars. Certified Gluten Free, they also have no added sugar and are botanically sweetened with a Stevia blend.

Lily’s Sweet is committed to using only non-GMO ingredients that are ethically sourced through Fair Trade practices. None of their products contain refined or processed sugars. This is chocolate you can feel good about eating that doesn’t sacrifice on flavor.

Because I promised double caramel, let’s get ooey and gooey with the easiest Dairy Free caramel sauce you’ll ever make. For this recipe I am using sweetened condensed coconut milk.

Unlike a traditional dairy caramel, this sticky decadent sauce only requires one ingredient. However you will want to watch it and not let it get too caramelized. Simply pour it into your pot and occasionally stir for 5-10 minutes until it starts to get lightly golden and thicker.

Going Bananas for Gluten Free Double Caramel Millionaire’s Cake

I know you’re already craving a slice of this cake so let’s break down the steps so you too can slice into this sweet treat.

To begin with, you want to make sure your ingredients are room temperature. There is Dairy Free butter in the batter and it’ll incorporate smoothly if you allow it to sit out. It also helps if your eggs and oat milk are room temperature so they don’t cause the butter to seize up.

Secondly, don’t over mix. The goal with all cakes is to sink your fork into that perfect tender bite. Mixing until your ingredients are just combined ensures that.

Always allow everything to cool both before frosting and stacking, and also the caramel sauce itself. You don’t want to spread chocolate-hazelnut spread on a hot cake only to have it slide off. Save that for your s’mores!

Last, but definitely the most important, save a little of the caramel sauce. I love to add a little to the base of the plate with each slice of cake.

Love caramel? Make sure you check out my recipe for Gluten Free Banana Caramel Upside Down Cake. Now let’s make Gluten Free Double Caramel Millionaire’s Cake!

Gluten Free Double Caramel Millionaire's cake

Gluten Free Double Caramel Millionaire’s Cake

This light and airy banana cake is drizzled in decadent Dairy Free coconut caramel and frosted with chocolate-hazelnut spread.
Print Pin Rate
Course: Dessert
Prep Time: 10 minutes
Cook Time: 40 minutes
resting time: 2 hours


  • Mixing Bowl
  • 2 8" round cake pans
  • saucepan


  • 3 cups Gluten Free 1.1 flour
  • 1 cup brown sugar
  • 1/2 cup sugar
  • 1 tbsp vanilla extract
  • 1 cup Dairy Free butter, room temp
  • 3/4 cup oat milk
  • 1 tbsp baking powder
  • 1/2 cup banana, ripe
  • 4 eggs
  • 2 cans Dairy Free sweetened condensed milk
  • 2 cups Dairy Free chocolate-hazelnut spread
  • caramel chocolate bars, chopped, for topping


  • Preheat the oven to 350 degrees. Spray 2 8" round cake pans with nonstick baking spray.
  • In a mixing bowl add the sugar and butter and mix for 3 minutes until the sugar is mostly dissolved and it is lighter in color.
  • Add the eggs, vanilla, oat milk, bananas, and vanilla. Stir to incorporate.
  • Add the dry ingredients and mix until just combined.
  • Divide the cake batter between the two cake pans.
  • Bake for 30-40 minutes, until the top is golden and a toothpick comes out clean.
  • Allow to cool completely.
  • Add the sweetened condensed coconut milk to a saucepan. Cook on medium/low heat until lightly golden. Be careful not to overcook. You want the caramel runny not hard.
  • Allow to cool 30 minutes.
  • To assemble, spread 1 cup of chocolate spread to the top of the first cake. Pour half of the caramel on top. Top with chopped chocolate.
  • Place the second layer of cake on top and repeat the process, adding the other half of the chocolate-hazelnut spread, caramel, and more chopped chocolate.
  • I like to add a drizzle of caramel to each place before plating the slices of cake.
  • Enjoy!


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