1. Preheat oven to 300 degrees F. Combine graham cracker crumbs and butter; press evenly on the bottom of the 9-inch pie pan.

2. In a large mixing bowl, beat cream cheese until fluffy. Gradually add sweetened condensed milk, beating until smooth.

3. Add vanilla and eggs, and mix well. Pour into prepared pie pan.

4. Bake for 1 hour, turn off the oven but leave the cheesecake in the oven with the door propped slightly open for an additional hour.

5. Refrigerate for at least 6 hours until firm.