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Christmas Baking

Wafer Cake With Condensed Milk: A No-Bake Walnut-Chocolate Fudge Pyramid Folded Between Wafer Sheets

The We Cook With Love Team · Updated November 9, 2026
Sliced wafer cake with condensed milk fudge filling between wafer layers, glazed with chocolate

This no-bake wafer pyramid is a rich, chewy treat: a walnut, cookie and chocolate fudge filling spread between wafer sheets, with sweetened condensed milk adding a soft caramel note.

If you like fudgy, caramel-style candy fillings, this version with sweetened condensed milk is softer than the classic. It is a familiar Central European Christmas sweet. Skip the fussy slicing and fold it into a “roof” shape instead. How do you keep the filling from running?

How Do You Make a No-Bake Wafer Pyramid?

Cook a thick filling from milk, sugar, butter, chocolate, sweetened condensed milk, ground walnuts and ground cookies. Divide it among three wafer sheets stacked on foil. Lay a fourth wafer lengthwise down the middle, lift the foil from both long sides to fold the stack into a triangle, wrap it tightly, chill, and pour melted chocolate over it.


At a Glance

  • Prep time: 30 min
  • Cooking time: 15 min (+ 4 hours chilling)
  • Servings: about 30 slices
  • Difficulty: Medium
  • Calories: about 160 kcal per slice
  • Trend: No-bake / Time-saving / Sweetened condensed milk

Ingredients

  • 4 large round cake wafer sheets (the thin, plain wafers sold for layered wafer cakes)

Filling

  • 1 cup (250 ml) milk
  • 1 1/2 cups (300 g) granulated sugar
  • 1 teaspoon vanilla extract (or 1 packet, 8 g, vanilla sugar)
  • 1 cup plus 2 tablespoons (250 g) butter
  • 3.5 oz (100 g) dark baking chocolate
  • Half of a 14-oz can (200 g) sweetened condensed milk
  • 2 cups (200 g) finely ground walnuts
  • About 2 cups (200 g) finely ground plain butter cookies or tea biscuits

Chocolate Glaze

  • 3.5 oz (100 g) milk chocolate
  • 2 tablespoons neutral vegetable oil

Instructions

  1. Pour the milk into a pot and add the granulated sugar and vanilla. Start heating it.
  2. Add the butter and the chocolate, broken into pieces. Stir over low heat until everything is fully melted and combined.
  3. Add all of the sweetened condensed milk and keep stirring until the mixture is smooth.
  4. Take the pot off the heat. Immediately stir in the ground walnuts and ground cookies. You will get a very thick mass.
  5. Let the filling cool for about 10–15 minutes, so it is not boiling hot (the wafers would get too soft) but is still spreadable.
  6. Lay out a large piece of aluminum foil. Place the first wafer on it and spread it with one third of the filling.
  7. Cover with the second wafer and spread with another third of the filling.
  8. Cover with the third wafer and spread with the last third of the filling.
  9. Lay the fourth wafer lengthwise down the middle of the spread layers.
  10. Key step: Grab the foil on both long sides and lift it. The sides come together and form a triangle (a “roof”). The wafer in the middle helps make a neat fold.
  11. Wrap the pyramid tightly in the foil and chill it until firm, ideally overnight (at least 4 hours).
  12. Glaze: Melt the milk chocolate with the oil over simmering water.
  13. Unwrap the firm pyramid and pour the chocolate over the whole thing. Chill again until the glaze sets.

Video Recipe

Tips for Perfect Wafer Cake with Condensed Milk

  • Thick filling: The filling must be really thick before you spread it. If it goes on too hot and thin, the wafers turn soggy and the “roof” collapses.
  • Slicing: Cut the pyramid with a sharp knife dipped in hot water first, for clean slices.
  • Finding wafers: Large round cake wafers are easiest to find at Eastern European or Middle Eastern grocery stores or online. Thin ice cream wafer sheets can work, but the result will differ.
  • Cookies: Any plain, dry butter cookie or tea biscuit (such as Marie biscuits) can be ground for the filling.

Easy Variations

  • Coffee pyramid: Add 2 teaspoons of instant coffee to the hot milk mixture for a stronger flavor.
  • Coconut version: Use 200 g (about 2 1/4 cups) shredded coconut instead of the walnuts.

Frequently Asked Questions (FAQ)

  • Why are there both sweetened condensed milk and sugar? The sugar and chocolate form the base of the caramel-like mass. The condensed milk adds a milky, soft, lightly caramelized flavor, so the filling is not just hard brittle.
  • Do I need the fourth wafer in the middle? No, you can use the handle of a wooden spoon instead. It is only a helper (a ridge) so the pyramid folds exactly in half.
  • How long does it keep? Wrapped and refrigerated, it stays in perfect shape for up to a week. It is a good dessert to make ahead.

This dessert tastes best well chilled. Store it in the refrigerator, wrapped in foil, so the wafers do not absorb moisture.

The recipe is based on a version by Jednostavna kuhinja, adapted by the We Cook With Love team.

Enjoy! Try more recipes from our kitchen.

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