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Step 1
Place a rack in the middle of the oven and preheat oven to 350 degrees F.
Step 2
Place a medium (about 4 quart) Dutch oven and any pot and lid suitable for both stovetop and oven cooking, over medium heat on the stovetop. Add pancetta bits and stir around the pot until crisp on all sides, about 8 minutes. Using a slotted spoon, transfer the crisp pancetta to a small plate, leaving any drippings behind in the pan.
Step 3
Add onions and rice to the dutch oven over medium heat. Stir around the pan until everything is well coated in pancetta drippings and the onions begin to soften, about 4 minutes. The rice will begin to toast – that’s perfect!
Step 4
Pour the wine into the onion and rice mixture, deglazing any brown bits that have stuck to the bottom of the pan. Allow wine to simmer until absorbed into the rice, about 2 minutes. Pour in 4 cups of chicken broth and bring to a simmer.
Step 5
Cover Dutch oven with the lid and place in the oven for 20 minutes.
Step 6
Remove from the oven and place on the stovetop. I keep pot holders on my hands to remind myself that the whole Dutch oven is screamin’ hot. Place the Dutch oven over medium heat on the stovetop and stir in 1 cup of chicken broth, butter, frozen peas, thyme, lemon zest, parsley, juice of a lemon, and a few good cracks of black pepper. Stir in most of the crisp pancetta, saving a few tablespoons for serving. Stir in parmesan cheese to combine until the cheese has melted and the additional broth has absorbed, about 4 minutes.
Step 7
Taste the rice and add remaining 1/2 cup of broth if the rice is too al dente. Add salt and/or pepper to taste.
Step 8
Just before serving, sprinkle with remaining pancetta, a bit of cheese, coarsely chopped parsley, and a lemon wedge.
Step 9
Risotto can be stored in an airtight container for up to 3 days. To reheat, add a splash of water before heating on the stovetop or in the microwave.