Disclosed is an improved sweetened nut butter spread having a desirable flavor and smooth texture. The sweetened nut butter spread is prepared by grinding nuts and/or oil seeds in the presence of an edible oil to form a nut paste containing ground nuts and/or oil seeds and edible oil. A sweetening composition comprising sugar is added to the nut paste to form a sweetened nut paste, and the sweetened nut paste is comminuted to form a ground sweetened nut paste. A liquid flavoring agent, such as honey or molasses, is added to the ground sweetened nut paste to form a sweetened nut butter spread. Crunchy particles can be further added to make crunchy nut butter spread.