Add 8 ounces cream cheese to a large bowl and beat with a hand mixer until smooth.
Add ⅓ cup powdered sugar, ½ cup heavy whipping cream, and ½ teaspoon vanilla extract and beat with a hand mixer until smooth.
Transfer the cream cheese mixture into a serving bowl and top with ⅓ cup strawberry jam. If desired, swirl the jam into it with a spoon or the back of a butter knife.