Preheat oven to 350 degrees F. Spread the hazelnuts on a baking sheet in a single layer. Roast for 12 minutes, rotating the pan halfway through.
Remove the hazelnuts from the oven and let cool for a couple of minutes.
Add the still warm hazelnuts to your food processor. Process on high until the nuts turn into loose, fairly liquid butter, about 10 minutes, stopping to scrape the sides and bottom of the food processor bowl a few times during this process.
Add the remaining ingredients to the food processor. Process on low for a few seconds, then process on high until very smooth, about 3 more minutes, scraping the sides and bottom twice.
Transfer the low carb "Nutella®" to an airtight container. It should keep on the counter for about a week.