Peel the paper labels of the sweetened condensed milk.
Fill a large pot with water and bring to a boil.
Once boiling, place the cans into the pot using tongs or a large spoon. Make sure that the cans are completely submerged into the water.
Reduce heat to a simmer and let it sit there for four hours. Check every 30 mins to make sure that the water level remains above the cans.
Once finished, remove the cans from the water and let it cool. Do not attempt to open the cans while it’s hot to avoid the risk of pressurized hot caramel to spray.
When cool, open the can of dulce de leche and enjoy! Any leftover may be placed in an airtight container and refrigerated for up to 3 weeks. Unopened cans of dulce de leche can be kept at room temperature for 3 months.