Cook the macaroni according to package directions until al dente. Drain and set aside.
In the same pot, melt butter over medium heat. Whisk in the flour and cook for 1 minute, stirring constantly.
Gradually whisk in the milk. Cook for 4–5 minutes, whisking often, until the sauce thickens and coats the back of a spoon.
Remove from heat. Stir in the shredded cheddar a handful at a time, stirring until each addition is melted and smooth.
Season with salt, pepper, and paprika.
Add the cooked macaroni back to the pot and stir until evenly coated. Serve immediately.
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