Line an 8x8 dish with parchment paper and set aside.

Add the chocolate chips and sweetened condensed milk to a medium sized non-stick saucepan and heat over medium low heat.

Stir to combine and continue stirring, almost constantly, until all the chocolate is melted and the fudge starts to come together. Remove from the heat and stir in the vanilla extract.

Transfer the fudge to the prepared baking dish and use a spatula to spread it out evenly. Let the fudge cool to room temperature and then refrigerate it until it's completely cold, about 2 hours.

When the fudge is completely chilled, cut it into pieces (I get about 36 small pieces).

Keep the fudge refrigerated and serve at room temperature.