In a microwave-safe bowl, combine 2 cups of white chocolate chips and 2 tablespoons of butter. Heat in the microwave in 20-second increments, stirring in between until the mixture is completely smooth and melted, taking about 1–2 minutes total.

In a mixing bowl, beat 8 ounces of softened cream cheese with a hand mixer until it’s creamy and free of lumps. Gradually blend in one can (14 ounces) of sweetened condensed milk, mixing until smooth.

Pour the melted chocolate mixture into the creamy mixture and gently stir until fully combined. Add 1 teaspoon of vanilla extract and 1 cup of powdered sugar, stirring until thick yet pourable.

Line an 8x8-inch baking dish with parchment paper. Sprinkle ½ cup of graham cracker crumbs evenly at the bottom.

Carefully pour the fudge mixture over the graham cracker layer, spreading it evenly. Refrigerate for at least 3 hours until firm.

Once firm, lift the fudge out of the pan using the parchment paper and cut into squares. Serve chilled.