Hazelnut butter is a rich, creamy nut butter made from the product of the hazelnut or filbert tree. Although not as popular as nut butters like peanut and almond, hazelnut butter is sometimes available in grocery and health food stores. It is also possible to make hazelnut butter at home with the assistance of a blender or nut grinder. In addition to being high in fat, hazelnut butter also has a large protein content, just as the nuts themselves do. The nuts also contain some calcium and iron. Although hazelnut butter is probably not healthy in large amounts simply because of the fat content, a small smear of it has some dietary merit. It is also important to remember that the fat in hazelnut butter is a good fat which should not negatively impact cholesterol levels.