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In a 5-quart Dutch oven, heat the olive oil over medium heat.
Add the onion and cook 3-4 minutes until soft and slightly transparent.
Add the bacon and stir constantly until it starts to crisp.
Add the mushrooms and cook for an additional 2 minutes.
Add the arborio rice and cook for one minute, stirring constantly so the oil coats the grains.
Stir in the white wine and simmer 2-3 minutes, stirring occasionally.
Add one cup (235ml) of the chicken stock and simmer over medium heat for about 5 minutes, stirring occasionally.
Once the rice absorbs most of the liquid, continue to add 1-2 cups (235-470ml) of stock at a time until the liquid is absorbed and the rice is cooked through, about 25-30 minutes total.
NOTE: The risotto should be al dente and fall back in on itself when you run the spoon along the bottom of the pot.
Stir in the Parmesan cheese and remove from the heat.
Serve and garnish with extra Parmesan cheese.