Preheat the oven to 325°F and grease and flour two 8 or 9 inch cake pans. Set aside.
In a stand mixer fitted with a whisk attachment, beat the softened butter and oil together until they become homogenous, about 3 minutes. This will not work if your butter is not completely room temperature.
Slowly add the granulated sugar to the oil and butter, beating on high until the mixture is light and fluffy and turns a very pale yellow, about 3 minutes.
Add the eggs in one at time, scraping down the bowl in between each addition. Add the vanilla extract. Beat the mixture on high for 3 minutes more to incorporate as much air as possible.
In separate bowl sift together the cake flour, salt, and baking powder. Alternate mixing in the dry ingredients and the buttermilk in 4 batches, starting with the buttermilk and ending with the dry ingredients. It’s okay if the batter still has a few lumps in it–you don’t want to over mix it.
Split the batter evenly into the prepared pans and bake for 30 minutes or until the cake is a lightly golden brown and springs back when pressed. This will depend on your oven. Take out of the oven and transfer to a cooling rack. Let the cakes cool completely and frost with your favorite frosting.
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Notes
Make sure ALL ingredients are at a true room temperature. If your butter is not at room temperature you will not be able to combine it with the oil!
If you don’t have buttermilk on hand, make this easy substitute from ingredients you already have!
If you don’t have cake flour, you can sub it out fro 2 2/3 cup all purpose flour.
Keep a close eye on the cake while they bake because every oven is different.
Freeze your cakes before assembling for easy frosting!