Easy Greek New Year’s Cake (Vasilopita)

What is Vasilopita?

Vasilopita (pronounced va-see-LO-pee-ta) is a traditional Greek New Year’s cake commemorating St. Basil. The name Basil in Greek is Vasili, hence the name Vasilopita, which means Basil’s cake/bread.

In Greece, there are two kinds of Vasilopita: a cake and a brioche-style sweet bread like Tsoureki, which is a traditional Greek Easter bread.  Recipes and decorations vary from region to region. A coin is hidden inside the Vasilopita and whoever finds the coin in their slice is said to have good luck for the entire year!

Why is there a coin hidden inside?

St. Basil is believed to have started this tradition over 1500 years ago when he hid coins and jewelry in breads to give to the poor. This is why some Orthodox Christians exchange Christmas gifts on January 1 instead of December 25. You can read more about St. Basil here.

What are some of the customs associated with Vasilopita?

In Greece, eating Vasilopita is not just for families. Businesses, clubs, and associations also serve Vasilopita, where members or employees who find the hidden coin inside their slice are usually given money or a gift.

Some families serve it right after midnight on New Year’s Eve, while others serve it on New Year’s Day.

In my family, we always have it on New Year’s Day, with a big family dinner. When it comes time for dessert, you'll  always find Melomakarona and Kourabiedes on the table, but the center of attention is the Vasilopita, where it is cut to bless the house for the New Year.

Why You'll Love This Recipe

• Rich in tradition. The Vasilopita tradition goes back many centuries and brings families together.  
• Easy to make. This Greek Vasilopita recipe is beginner-friendly, even if you’re new to baking.  
• Customizable. You can add your own touches, like decorations or spices, or by omitting nuts and alcohol.  
• Perfect for sharing. This cake is large enough to serve at a family dinner or party.  
• Symbolic and fun. The hidden Vasilopita coin adds some excitement, and the person who finds it is said to have good luck for the year!

What You’ll Need

• Flour. I use all purpose flour, but you could also use self-rising flour, but without the baking powder.
• Baking powder. It helps the cake rise and keeps it fluffy.
• Nuts: I add some walnuts as they add texture. They really complement the spices, too. Feel free to omit them, though, if you prefer.
• Spices: I use a combination of ground cinnamon, nutmeg, and cloves. They pair so well with the orange, walnuts, and cognac.
• Butter: I always use unsalted butter.
• Sugar & salt: I use granulated sugar, a little salt, and some powdered sugar (aka icing sugar - not shown above). The powdered sugar makes a snowy, festive decoration.
• Orange. I use the zest and juice from one orange. It adds brightness and a wonderful citrusy aroma.
• Eggs: You'll need 3 eggs.
• Vanilla: I use pure vanilla extract.
• Cognac or brandy. It really adds a subtle depth of flavor.  
• Fresh Milk. Keeps the batter smooth and adds moisture.  
• Clean coin wrapped in aluminum foil. This is a key part of the tradition—hide this in the cake for good luck!  Use a coin that's about an inch in diameter (24mm), roughly the size of a quarter.
• Pomegranate seeds & rosemary sprigs (not shown above). These are optional, but I love the colors they create on top of the cake.  

See the recipe card at the end of the post for exact quantities.

Equipment You'll Need

• Large mixing bowls  
• Whisk and spatula  
• Electric mixer (optional, for creaming the butter and sugar)  
• Cake pan (10-inch / 25.4cm)  
• Parchment paper  
• A coin (about an inch in diameter/24mm, roughly the size of a quarter).
• Aluminum foil (for the coin)  
• Cooling rack  
• Sifter (for powdered sugar)  

How to Make Greek New Year’s Cake

1. First, zest the orange and then juice it.

2. In a bowl, whisk together the flour, baking powder, walnuts, salt, and spices. Set aside.

3. Beat the butter until it's smooth.

4. Add the sugar and the orange zest and beat to combine.

5. Beat in the eggs, one at a time, and the vanilla until they are well incorporated.

6. Alternately add the dry ingredients and wet ingredients in two additions. Beat until just combined.

7. Pour the batter into the prepared pan and bake.

8. After the cake has cooled, remove it from the pan, peel off the parchment paper, and carefully insert the foil-wrapped coin from the bottom. 

Storage Tips & Freezing Instructions  

Store at room temperature in an airtight container (or wrap tightly with plastic wrap) for up to about 3 days. It also keeps well for up to a week in the

To freeze a whole cake, let it cool completely and don't dust it with powdered sugar. Just wrap it tightly in plastic wrap first, then put it in a freezer bag. You can also wrap individual slices in plastic wrap. The can can be frozen for up to about 3 months. Thaw the cake in the refrigerator overnight. Right before serving, dust it with powdered sugar.

Variations  

• Glazed. Top with an orange glaze instead of powdered sugar.  
• Lemon Twist. You can easily swap out the orange zest for fresh lemon zest, for a tangier flavor.
• Chocolate decorations. Use melted chocolate to write the date and Happy New Year on top.

Frequently Asked Questions