In a large saucepan, melt butter over low heat. Add marshmallows and stir until melted and smooth.
Remove from heat and gently stir in Rice Krispies cereal until well coated.
Press the mixture into the bottom of a greased 9-inch springform pan to form the crust.
In a mixing bowl, beat cream cheese, sugar, and vanilla extract until smooth.
Fold in whipped cream gently until combined.
Pour the cream cheese mixture over the crust and smooth the top.
Chill in the refrigerator for at least 4 hours or until set. Serve and enjoy!