Preheat the oven to 350 degrees F. Line a 9-inch springform baking pan with parchment paper and spray with non stick baking spray. Set aside.
In a large mixing bowl add 1/2 cup unsalted butter, softened to room temperature, 1/4 cup olive oil and 1 1/4 cups granulated sugar. Beat at medium speed until the mixture looks light and fluffy. This will take 3-4 minutes.
Add 2 large eggs, room temperature, one at a time, beating on medium speed between each addition.
Add 1 teaspoon almond extract and 1 teaspoon vanilla extract and beat to combine.
In a separate bowl, combine 1 1/2 cups all-purpose flour, 1 1/2 teaspoons baking powder, 1/2 teaspoon saltand 3/4 cup almond flour.
Gradually add the dry ingredients to the wet ingredients using a rubber spatula to gently fold everything together. The batter will be thick.
Transfer the batter to the prepared springform pan. Smooth the top into an even layer with an offset spatula or the back of a spoon.
Scatter 1/2 cup slivered almonds on top in an even layer.
Bake in the middle of the preheated oven for 40 minutes. The cake will be a light golden brown and a toothpick inserted into the center should come out clean.
Remove from the oven and allow the cake to cool in the pan for 15 minutes then run a sharp knife around the outside edge of the cake and unclip the pan.
Place the cake on a serving plate and dust with powdered sugar.
Notes
Be sure to properly measure your all-purpose flour by spooning it into a measuring cup and then leveling the top. Too much flour can lead to a dense cake.
The olive oil in this cake adds to the fat content and helps make the cake extra moist and keeps it tender for several days. You won’t be able to taste it with such a small amount, but if you need to substitute it, you can use vegetable or canola oil instead.
It’s important to have room temperature ingredients as stated, as this encourages even mixing and a tender texture.
The almond and vanilla extracts in this cake really enhance the flavor. For an extra boost, the zest of an orange or lemon could be used to add brightness, or a splash of amaretto is lovely too.
We served our almond cake with a simple dusting of powdered sugar, but it is fantastic topped with berries, mascarpone, whipped cream or ice cream.