I would love to tell you that this homemade chocolate-hazelnut spread taste just like Nutella, but it's been so many years since I've had the Italian chocolate-hazelnut spread (it's a bit out of my budget), that I can't clearly remember what it tastes like. However, I can tell you that I will no longer leer lustfully at it in the grocery store because this chocolate-hazelnut spread is amazing! (And so much cheaper!) Now I can finally begin trying all those recipes that call for Nutella.
This recipe comes from Food.com with some minor variations.
1/2 cup hazelnuts with skins
1 cup sweetened condense milk
3/4 cup semi-sweet chocolate chips (I used Ghiradelli)
4 tablespoon honey
Preheat oven to 400 degrees. Spread the hazelnuts out in a single layer on a baking sheet and toast for 10 to 12 minutes. The skins will turn black. Allow the hazelnuts cool then rub the skins off using your hands or a dishtowel.
Place the hazelnuts in a food processor and process until the nuts liquify, occasionally scraping down the sides with a spatula. It takes between 5 and 8 minutes for the hazelnuts to liquify.
In a heat proof bow, combine the condensed milk, chocolate chips, and honey. Microwave the mixture at 30 second intervals, stirring in between each interval until the chocolate chips are melted and the mixture is well combined.
Add the chocolate mixture to the food processor with the liquified hazelnuts. Process until the mixture is smooth, 3 to 5 minutes.
Store in an airtight container, such as a canning jar, and keep refrigerated.