Combine the milk, sugar, honey, salt, orange zest and vanilla in a large non-stick pot. Heat the mixture over medium heat.
Whilst the milk is heating, rinse the rice under cold water to remove some of the starch.
When the milk becomes frothy, add in the rinsed rice. Combine with a wooden spatula or spoon to prevent the rice from sticking to the bottom. Reduce the heat to low and let it simmer gently for 30-35 minutes, stirring every few minutes.
Turn off the heat, then mix in the cold butter, chopped into cubes. Use a wooden spoon to combine the mixture gently and melt the butter into the rice.
Stir in the egg yolk, mixing well until the pudding becomes pale yellow in colour. At this point the pudding will be slightly sticky, but creamy.
Pour the rice pudding into a tray, then cover it with plastic wrap. Let it cool down to room temperature, before chilling in the fridge for 30 minutes. Serve with a topping of fruit jam or fresh berries.
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Arborio rice can also be replaced with sushi rice. See post notes for more details on substitutions.
Vanilla bean paste can also be replaced with 1 vanilla pod.
This recipe requires the use of pasteurised eggs. For an eggless pudding, replace the egg yolk with 1 tablespoon of heavy or clotted cream.