Gather all ingredients.

Stir together caramel dip and 1 tablespoon of the pecans in a small bowl; store in refrigerator until ready to use.

Beat cream cheese and butter with a stand mixer fitted with a paddle attachment on high speed until smooth, about 1 minute. Add powdered sugar and brown sugar; beat on low until just combined, about 5 seconds; increase speed to medium-high and beat until smooth, about 30 seconds.

Add pudding mix, lemon juice, salt, cinnamon, and 1/3 cup of the pecans; mix until just combined, about 10 seconds.

Line the inside of a medium bowl with plastic wrap, leaving about a 2-inch overhang. Place cream cheese mixture into the prepared bowl, pressing down until firmly packed; make a well in the center.

Refrigerate, uncovered, until just firm, about 45 minutes.

Spoon caramel mixture into the well of the chilled cream cheese. Wrap plastic around the mixture, sealing it into a ball shape.

Refrigerate until completely firm, about 2–12 hours.

Roll the cheese ball in the remaining pecans to coat. Place on a serving platter and drizzle with additional caramel dip.