All the heartiness of a baked potato comes together in this rich and fast-as-can-be Instant Pot Loaded Baked Potato Soup, topped with shredded cheddar, crispy bacon bits, green onion, and sour cream.
Set the Instant Pot to "Saute" and add the bacon. Cook until the bacon is very crispy.
Remove the bacon with a slotted spoon onto a paper towel to drain the grease, leaving the bacon grease in the bottom of the Instant Pot.
Leave the Instant Pot on "Saute," add the onion, and cook until tender, about 5 minutes, stirring often.
Add the garlic, and stir until fragrant.
While the bacon and onions are cooking, peel the potatoes and chop them into 1- to 1.5-inch cubes.
After you have added the garlic and it has gotten fragrant, add the potatoes and the chicken broth. Stir well to combine.
Place the lid on the Instant Pot, and press "Pressure Cook." Set the time for 10 minutes, and be sure the valve on the lid is set to "Sealing."
After cooking at pressure for 10 minutes, release the valve on the lid for an instant pressure release.
When the pressure drops all of the way, remove the lid carefully. Stir the contents of the pot, and let it cool for about 5 minutes with the Instant Pot turned off and the lid off.
Stir in the cream and salt to taste. (I used 2 teaspoons of salt; adjust to your liking.) Add pepper to taste.
Dish the soup into bowls, and then serve with the cooked bacon, shredded cheese, green onions, and sour cream on top just like you would a baked potato.
Notes
I didn't use any thickeners for this recipe because I didn't use too much chicken broth AND the potatoes cook down a lot in the Instant Pot, which means it thickens itself.
If your family likes a smoother soup, mash the potatoes in the pan once they're softened until they're the consistency you want.
Don't forget those toppings! They aren't garnishes—they are what give this soup its name.
Leftovers reheat very well, so this soup can be made ahead and stored in the fridge or freezer and reheated before serving.