In a mixing bowl with the paddle attachment, beat the cream cheese until smooth, then gradually add the sweetened condensed milk. Incorporate the lemon juice and vanilla extract, and continue beating until everything is well mixed.

Transfer the filling into the chilled graham cracker crust, cover the cheesecake with plastic wrap, and refrigerate for 3 ½ to 4 hours or until set. This recipe yields one spring-form pan or 10 small cheesecakes.