In a medium bowl, combine graham cracker crumbs and melted butter. Mix until well combined. Press the mixture firmly into the bottom of a 9-inch pie dish to form the crust. Refrigerate for 15 minutes to set.

In a large mixing bowl, beat the softened cream cheese with an electric mixer until smooth and creamy. Gradually add the powdered sugar, mixing until fully incorporated.

Add the Nutella and vanilla extract to the cream cheese mixture. Beat until the mixture is smooth and well combined.

In a separate bowl, whip the heavy cream until stiff peaks form. Gently fold the whipped cream into the Nutella mixture until fully combined.

Pour the Nutella cheesecake filling into the prepared crust, smoothing the top with a spatula.

Refrigerate the pie for at least 4 hours, or until set. For best results, chill overnight.

Before serving, garnish with chocolate shavings or a dusting of cocoa powder, if desired.