Gather all your ingredients and measure them out.
If using fresh pumpkin, peel and chop it, then steam or roast until tender. Mash lightly.
In a large pot, heat olive oil and butter over medium heat. Sauté onion for 5 minutes until translucent, then add garlic and cook for 1 minute.
Add Arborio rice to the pot and toast for 2 minutes, stirring to coat.
Pour in warm vegetable broth and pumpkin puree, stir in thyme, salt, and pepper. Bring to a gentle simmer.
Cover the pot and transfer to the oven. Bake for 25-30 minutes until rice is tender.
Remove from oven, stir in goat cheese and Parmesan cheese.
Let sit for 5 minutes before serving. Garnish with fresh parsley.