Heat butter and olive oil in a skillet. Add sliced onions and cook on medium-low for about 20–25 minutes until caramelized and golden.
Preheat oven to 375°F.
In a bowl combine ground beef, 1 cup caramelized onions, Gruyère cheese, breadcrumbs, egg, garlic, Worcestershire sauce, Dijon mustard, thyme, salt, and pepper. Mix gently.
Shape mixture into a loaf and place on a parchment-lined baking sheet or in a loaf pan.
Bake for 35 minutes.
Top with remaining caramelized onions and extra Gruyère cheese.
Return to oven and bake another 10–15 minutes until cheese is melted and bubbly.
Let rest 10 minutes before slicing.
Serve with roasted vegetables or mashed potatoes and enjoy!
