Paula Deen's banana pudding layers vanilla wafers, fresh banana slices, and a rich cream cheese custard, then tops the whole thing with whipped topping. No baking is required — the dessert sets in the refrigerator in a few hours. It serves a crowd well and holds up nicely overnight.
In a mixing bowl, whisk together the instant pudding mix and cold milk until smooth and thickened. This should take about 2 minutes. Let it sit for 5 minutes to set.
In a separate bowl, combine sweetened condensed milk and vanilla extract. Whisk until fully incorporated.
Add the room temperature cream cheese to the pudding mixture. Using a whisk or an electric mixer, beat until no lumps remain and the mixture is creamy.
Gently fold in the thawed whipped topping until the mixture is light and fluffy.
In an 8x8 inch baking dish, layer the bottom with a single layer of vanilla wafers. Arrange the sliced bananas over the wafers evenly.
Spread half of the pudding mixture over the banana layer, then repeat the layers ending with the pudding mixture on top.
Finish by topping the pudding with any remaining wafers, creating a decorative finish.
Refrigerate for at least 2 hours before serving to allow flavors to meld and to set the pudding firmly.
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Notes
For a more indulgent flavor, consider caramelizing the bananas before layering them into the pudding.