Heat your broth in a saucepan until it just reaches a gentle simmer, then keep it warm over low heat.
In your large pan, melt a tablespoon of butter with a splash of olive oil over medium heat until it starts to bubble softly.
Add the finely chopped shallot and minced garlic to the pan, stirring gently until translucent and fragrant—about 2 minutes. The aroma should fill the kitchen.
Stir in the sliced mushrooms, cooking until they release their juices and turn golden brown—about 5-7 minutes. You’ll notice the earthy scent intensify as they cook.
Add the arborio rice to the pan and toast it for 1-2 minutes, stirring frequently, until the edges turn translucent and it makes a gentle crackling sound.
Begin ladling in the warm broth, about half a cup at a time, stirring constantly. Wait until the liquid is mostly absorbed before adding the next splash. Continue this process for about 20-25 minutes, until the rice is tender but still slightly firm.
As the rice nears perfect doneness and the mixture becomes creamy and velvety, remove the pan from heat.
Stir in the grated Parmesan cheese, the remaining butter, and season with salt and pepper to taste. The risotto should be glossy and rich-looking.
Let the risotto rest for 2 minutes off the heat, uncovered, to allow flavors to deepen and the texture to set beautifully.
Garnish with freshly chopped herbs like parsley or thyme for a burst of brightness, then serve immediately for the best creamy consistency.