1. In a medium saucepan, add the carob powder and pour in the water, stirring to blend.
2. Stir in the honey.
3. Place pan on moderate low flame and heat to boiling.
4. Reduce heat and simmer about 5 minutes, until the syrup is thick and smooth.
5. Take pan off heat and stir in Vanilla Extract.
6. Pour into a jar or bottle, cover and refrigerator.
7. Stir about 2 tablespoon of the Carob Syrup to flavor about cup (250 ml) milk, either hot or cold to make a healthy beverage.