Line a baking sheet with parchment paper and place it near the stovetop for easy access.

Combine granulated sugar, brown sugar, evaporated milk, and butter in a saucepan and heat over medium, stirring until smooth and melted.

Stop stirring and let the mixture come to a gentle boil, cooking for 3 to 4 minutes until slightly thickened and light tan in color.

Remove from heat, stir in vanilla extract, then fold in the pecans until evenly coated.

Drop spoonfuls of the mixture onto the prepared baking sheet, spacing them apart and working quickly.

Let the pralines cool for 15 to 30 minutes until firm, then remove from parchment and serve or store.