Million Dollar Soup with Chicken, Bacon and Cheddar

If a loaded baked potato and a creamy chicken soup had a very cozy baby, it would be million dollar soup. Tender chicken, buttery potatoes, cream cheese and sharp cheddar melt into a thick, silky broth, and every bowl gets a shower of crispy bacon and green onions. It tastes wildly indulgent, but it is made with ordinary grocery store ingredients in one pot.

In this post I walk you through why the soup works, the ingredients, step-by-step directions, my best tips, easy swaps like pasta instead of potatoes, common mistakes and how to store and reheat leftovers. The printable recipe card with exact measurements and estimated nutrition is waiting at the bottom of the post.

Why This Million Dollar Soup Works

The name says it all: this soup is all about richness. But a good creamy soup also needs balance, so it does not feel heavy after three spoonfuls. Here is how this version gets there.

• Bacon fat as the flavor base. The onions, carrots and celery cook in a little rendered bacon fat plus butter, so smoky flavor runs through the whole pot.
• A simple roux. Flour cooked in the fat thickens the broth so the cheese has something to cling to and never turns stringy.
• Cream cheese for silkiness. Softened cream cheese melts into the hot broth and gives the soup a velvety body with a gentle tang.
• Sharp cheddar off the heat. Adding the cheddar last, with the heat turned off, keeps it smooth instead of grainy.
• Yukon gold potatoes. They hold their shape but release just enough starch to thicken the soup naturally.

The result is a spoon-coating soup with distinct bites of chicken and potato, not a gloopy cheese sauce. A pinch of smoked paprika and a little Dijon mustard sharpen the cheddar flavor so the whole bowl tastes bright and savory.

Ingredients You Will Need

You probably have half of these in the kitchen already. Here is what each one brings to the pot.

• Thick-cut bacon: Six slices, cooked crisp. Half goes into the soup and half goes on top.
• Boneless skinless chicken breasts: About 1 1/2 pounds (680 g). Thighs are a great, juicier swap.
• Butter, onion, carrots and celery: The classic aromatic base for any chicken soup.
• Garlic, thyme and smoked paprika: Warm, gentle seasoning that pairs well with bacon and cheese.
• All-purpose flour: Builds the roux that thickens the broth.
• Low sodium chicken broth: Bacon and cheese bring plenty of salt, so start with low sodium.
• Yukon gold potatoes: About 1 1/2 pounds (680 g), diced into 1/2-inch cubes.
• Cream cheese: One 8-ounce (226 g) block, softened and cubed. Full fat melts best.
• Half-and-half: Adds creaminess without making the soup too heavy.
• Sharp cheddar: Shred it from a block for the smoothest melt.
• Dijon mustard and green onions: A small amount of mustard deepens the cheese flavor, and green onions add freshness on top.

If you are short on time, a rotisserie chicken works beautifully here. You will need about 3 cups of shredded meat, and you can skip the poaching step entirely.

How to Make Million Dollar Soup

Use a 5 to 6-quart Dutch oven or heavy soup pot. Dice the vegetables and potatoes before you start, and set the cream cheese on the counter so it softens while the soup simmers.

1. Crisp the bacon. Cook the chopped bacon in the pot over medium heat for 7 to 8 minutes until crisp. Move it to a paper towel and pour off all but about 2 tablespoons of the fat.
2. Soften the vegetables. Add the butter, onion, carrots and celery with a pinch of salt. Cook for 5 to 6 minutes until the onion is soft and translucent.
3. Build the roux. Stir in the garlic, thyme and smoked paprika for 30 seconds. Sprinkle in the flour and cook for 1 to 2 minutes, stirring, so it loses its raw taste.
4. Simmer the chicken and potatoes. Slowly whisk in the broth, then add the potatoes and whole chicken breasts. Bring to a boil, lower the heat and simmer, partly covered, for 18 to 20 minutes until the chicken reaches 165°F (74°C) and the potatoes are fork-tender.
5. Shred the chicken. Lift the chicken onto a board and shred it with two forks while the soup keeps at a low simmer.
6. Melt in the cream cheese. Lower the heat and stir in the cubed cream cheese until completely smooth, about 2 minutes.
7. Add the dairy and cheddar. Stir in the half-and-half, Dijon and the shredded chicken. Turn off the heat, then add the cheddar a handful at a time, stirring until melted.
8. Finish and serve. Stir in half the bacon, taste for salt and pepper, and ladle into bowls. Top with the remaining bacon, extra cheddar and green onions.

If the soup looks thicker than you like, loosen it with a splash of warm broth. It thickens more as it sits, so it is better to serve it slightly looser than you think you want.

Tips for the Creamiest Soup

• Soften the cream cheese first. Cold cream cheese breaks into small white flecks that take forever to melt. Cube it early and let it sit out.
• Keep the heat low for dairy. Once the cream cheese and half-and-half go in, avoid a rolling boil, which can make the soup separate.
• Add cheddar off the heat. Residual heat melts the cheese gently, so it stays glossy and smooth.
• Cut potatoes evenly. Half-inch cubes cook at the same rate as the chicken and fit nicely on a spoon.
• Season at the end. Bacon, broth and cheddar all add salt, so taste before adding more.
• Mash a few potatoes. For an extra thick soup, press a few potato cubes against the side of the pot before adding the dairy.

Love cozy, cheesy bowls? Try my cheesy cheeseburger potato soup, the easy crockpot potato soup with hash browns and the rest of my soups and stews recipes for more cold-weather comfort.

Easy Variations

• Pasta instead of potatoes: Skip the potatoes and simmer the chicken for 15 minutes. Add 8 ounces (226 g) of small shells or ditalini with an extra cup of broth and cook until tender before adding the dairy.
• Slow cooker version: Cook the bacon and vegetables on the stove, then add everything except the dairy and cheese to a slow cooker. Cook on low for 6 hours, thicken with a flour slurry, and stir in the cream cheese, half-and-half and cheddar for the last 20 minutes.
• Ranch style: Stir 1 tablespoon of dry ranch seasoning into the roux for a chicken bacon ranch flavor.
• Spicy: Use pepper jack instead of half the cheddar and add a diced jalapeño with the onion.
• Broccoli cheddar twist: Add 2 cups of small broccoli florets for the last 6 minutes of simmering.
• Lighter bowl: Use whole milk instead of half-and-half, reduced-fat cream cheese and a little less cheddar.

Choosing the Best Cheese

The cheese makes or breaks this soup, so it is worth picking well. A sharp or extra-sharp cheddar gives the strongest flavor, which matters because the cream and potatoes mellow everything around them. Mild cheddar melts nicely but tastes a bit flat in the finished bowl.

You can blend cheeses too. Half cheddar and half Monterey Jack gives a gooier, milder soup, while a little smoked Gouda doubles down on the bacon flavor. Avoid aged hard cheeses like Parmesan as the main cheese here, since they tend to clump in a broth-based soup, though a tablespoon or two is lovely on top.

Whatever you choose, shred it fresh and let it come toward room temperature while the soup simmers. Room-temperature cheese melts faster and more evenly, so you spend less time stirring over the heat.

What to Serve with Million Dollar Soup

This is a hearty soup, so I like simple sides that add crunch or freshness. Warm crusty bread or my cheesy garlic pull-apart bread is perfect for dunking, and buttery crackers are a classic topping.

For balance, serve a crisp green salad with a tangy vinaigrette or the harvest salad with apples and pecans. Pickles, sliced apples or a plate of raw veggies also cut through the richness nicely on a busy weeknight.

Common Mistakes and How to Fix Them

Creamy, cheesy soups are easy once you know the few spots where they can go wrong. Here is a quick troubleshooting guide.

Make Ahead, Storage and Reheating

Cool leftovers and refrigerate them in airtight containers within 2 hours, then enjoy within 3 to 4 days. The USDA has clear guidance on leftovers and food safety if you want a refresher on safe cooling and reheating.

Reheat on the stove over medium-low heat, stirring often and adding a splash of broth or milk, until steaming hot at 165°F (74°C). Store the bacon topping separately so it stays crisp. In the microwave, heat in 1-minute bursts and stir between each one.

Cream-based soups with potatoes do not freeze perfectly, because the potatoes can turn grainy and the dairy may separate. If you want to freeze it, make the soup through the simmering step, freeze that base for up to 3 months, then reheat and add the cream cheese, half-and-half and cheddar fresh.

Frequently Asked Questions

Ready to cook? Here is the full printable million dollar soup recipe with exact measurements and estimated nutrition.

Million Dollar Soup

A rich, creamy chicken soup with potatoes, cream cheese, sharp cheddar and crispy bacon, made in one pot in under an hour.

Print Recipe Pin Recipe

Prep Time 15 minutes mins

Cook Time 40 minutes mins

Total Time 55 minutes mins

Servings: 6 servings

Course: Main Course, Soup

Cuisine: American

Calories: 640

Ingredients Method Notes

Ingredients

  

Soup base

• 6 slices thick-cut bacon chopped
• 2 tablespoons unsalted butter
• 1 medium yellow onion diced
• 2 medium carrots peeled and diced
• 2 stalks celery diced
• 3 cloves garlic minced
• 1 teaspoon dried thyme
• 1/2 teaspoon smoked paprika
• 1/3 cup all-purpose flour (40 g)
• 4 cups low sodium chicken broth (950 ml)
• 1 1/2 pounds Yukon gold potatoes cut into 1/2-inch cubes (680 g)
• 1 1/2 pounds boneless skinless chicken breasts (680 g)
• 1/2 teaspoon salt plus more to taste
• 1/2 teaspoon black pepper

Creamy finish

• 8 ounces cream cheese softened and cubed (226 g)
• 1 cup half-and-half (240 ml)
• 1 teaspoon Dijon mustard
• 2 cups sharp cheddar freshly shredded (200 g), plus more for topping
• 3 green onions thinly sliced

Method

 

Build the soup

1. Cook the bacon in a Dutch oven over medium heat for 7 to 8 minutes until crisp. Transfer to a paper towel and pour off all but 2 tablespoons of the fat.
2. Add the butter, onion, carrots and celery with a pinch of salt and cook for 5 to 6 minutes until softened.
3. Stir in the garlic, thyme and smoked paprika for 30 seconds. Sprinkle in the flour and cook for 1 to 2 minutes, stirring constantly.
4. Slowly whisk in the broth. Add the potatoes, chicken, salt and pepper. Bring to a boil, reduce the heat and simmer partly covered for 18 to 20 minutes, until the chicken reaches 165°F (74°C) and the potatoes are tender.
5. Transfer the chicken to a board and shred it with two forks.

Finish

1. Reduce the heat to low and stir in the cream cheese until completely smooth.
2. Stir in the half-and-half, Dijon and shredded chicken. Turn off the heat and add the cheddar a handful at a time, stirring until melted.
3. Stir in half the bacon, adjust the seasoning and serve topped with the remaining bacon, extra cheddar and green onions.

Notes

Pasta version: Replace the potatoes with 8 ounces of small pasta and 1 extra cup of broth, cooking the pasta in the soup until tender.

Storage: Refrigerate up to 4 days and reheat gently to 165°F (74°C), adding broth as needed.

Nutrition is an estimate per serving.

I hope this creamy, cheesy pot of soup makes your week feel a little more luxurious. If you make it, please leave a comment and a star rating below and tell me whether you went with potatoes or pasta. Happy cooking, friends!