In the bowl of a stand mixer with a paddle attachment or a large bowl with an electric mixer add in the room temperature softened cream cheese. Mix on medium high for until smooth.
Scrape the sides and bottom of the bowl and then add the butter and continue to whip until light and fluffy.
Slowly add in the powdered sugar 1 cup at a time scraping the sides of the bowl before adding more in.
Once all the powdered sugar is incorporated and smooth add in the vanilla extract and mix on low speed until everything is combined.
Frost or place in piping bag and frost on cupcakes.