This homemade caramel corn is coated in a rich buttery caramel made with brown sugar, corn syrup, and molasses, then baked until perfectly crisp. Packed with crunchy peanuts and classic fairground flavor, it tastes just like old-fashioned Cracker Jacks and makes a great snack for parties, movie nights, and holiday gatherings.
Pop the popcorn. Sort out the unpopped kernels. The best way to do this is to add all of the popcorn to a large bowl or colander and grab handfuls of the popped corn. The kernels will sink to the bottom.
Add the butter, corn syrup, molasses, brown sugar, and salt to a large Dutch oven. The reason you want to use a large pot is two-fold. The baking soda will make the caramel foam up quite a bit. It’s also very easy to mix the popcorn and nuts with the caramel, so you only dirty one piece of equipment.
Bring the ingredients to a boil over medium-high heat. Add a candy thermometer to the side of the pan. Cook the caramel until it reaches softball stage. Roughly 248°F.
Remove the caramel from the heat. Add vanilla and stir. Then add the baking soda. Be aware that it will bubble up. Stir to combine. Add the peanuts and popcorn to the caramel and coat each piece as best you can.
Spread the popcorn out in a single layer on two parchment-covered cookie sheets.
Bake in a 250°F oven for about 45 minutes until the caramel is a bit dry. Turn with a large spatula every 15 minutes to ensure that all sides dry.
To test for doneness, let a few pieces cool down for a minute or two. Taste them to see if they are crunchy. If they are, they are done. The drying process takes about 45 minutes to one hour.
Notes
Pro Tips for Your Success
If you don’t have two rimmed baking sheets, dry the popcorn in batches. Note: A roasting pan will work too.
Don’t be concerned to see butter on the parchment paper. It will still taste delicious.
If you don’t have a large Dutch oven or saucepan, use a 4-quart medium saucepan. If you use a smaller saucepan, you’ll need to pour the caramel mixture into a large bowl over the popcorn and peanuts.
How to Store Homemade Caramel CornStore the caramel corn in airtight containers in the pantry for about a week for the best crunchiness. Do not freeze.