Melt the butter in a light-colored pan over medium heat. Stirring constantly with a spatula or wooden spoon, continue to cook for 5 to 10 minutes, or until the butter smells nutty and the milk solids at the bottom of the pan turn golden brown. The butter will foam around the edges in the first few minutes of cooking. The foam will subside slightly before the butter is fully browned.
Immediately pour the browned butter into a large heatproof bowl to prevent burning. Use in any recipe that calls for browned butter or melted butter, or allow to cool to room temperature and store in the refrigerator for up to a week.