Gather all ingredients.

Melt 1 tablespoon butter in a large nonstick skillet over medium. Add onion, and cook, stirring occasionally, until soft and translucent, about 3 minutes. Add garlic, and cook, stirring constantly, until garlic is fragrant and onions are lightly browned, about 1 minute. Stir in wine, and cook, stirring occasionally, until wine is reduced by half, about 3 minutes.

Stir in chicken stock, lemon zest, salt, and black pepper. Bring to a boil over medium, and stir in rice. Cover and reduce heat to low. Simmer, undisturbed, until rice is just cooked through, 9 to 10 minutes. Add shrimp to rice in an even layer; drizzle with lemon juice, and dot with remaining 4 tablespoons butter. Cover and continue to cook over medium until shrimp and rice are cooked through, 5 to 6 minutes.

Remove from heat. Stir in Parmesan cheese and basil. Garnish with lemon wedges and basil leaves.