In the bowl of your mixer, beat cream cheese, sugar, and vanilla until smooth and no lumps remain.
In the top of a double boiler (or just a glass bowl set over a pot) over lightly simmering water, heat white chocolate, stirring until melted and smooth.
Stir the melted white chocolate and pretzels into the cream cheese mixture.
Spread into a parchment lined 8x8 baking dish and chill for 1 hour.
Cut into 1-inch squares (or smaller - this stuff is rich!) and serve!