In a microwave-safe bowl, pour the white chocolate chips. Cover and microwave for 30 seconds.
Remove from microwave and stir.
Continue microwaving in 30 second bursts until chips are completely melted. Stir until smooth.
Pour in sweetened condensed milk and vanilla. Mix thoroughly.
Pour in sprinkles and fold in.
Spread mixture in 9x9 pan. Add sprinkles to the top.
Cover and allow to set for 1 hour. Setting time can be reduced by placing fudge in the fridge.
Once set, cut fudge into squares and store in airtight container.