Rinse the basil stems and foliage under cool water. Shake the excess moisture from the foliage.
Gather the cut end of the stems together. Wrap a rubber band tightly around the stems, securing the bunch together. The rubber band holds the bunch tightly, even as the stems dry and shrink.
Cut the bottom off a lunch-size paper bag. The bag protects the basil so dust and grime doesn't settle on the foliage as it dries.
Place the bunch of basil inside the paper bag. Gather the opening closed around the stem end of the bunch. Wrap a second rubber band around the gathered bag, securing it to the stems.
Hang the bag wrapped bunch by the stems in a well-ventilated, dry place where the temperature remains between 70 and 80 degrees Fahrenheit. Basil takes approximately one to two weeks to dry completely.
Remove the bag once the basil is dry and crumbly. Remove the leaves from the stems. Store the dried leaves in an airtight container for six months to a year.