Preheat the oven to 325°F (160°C) and grease a 9-inch springform pan or line it with parchment.

In a bowl, combine graham cracker crumbs, ¼ cup sugar, and melted butter. Press the mixture down firmly into the bottom of the springform pan.

Chill the crust for 10 minutes so it holds together.

In a large mixing bowl, beat the cream cheese until smooth and billowy. Gradually add 1 cup sugar and vanilla, mixing until well combined.

Add eggs one at a time, mixing on low speed after each addition until just combined.

Pour half of the cream cheese mixture over the crust.

Drizzle half of the caramel sauce in lines across the batter, then top with the remaining cream cheese mixture.

Using a knife, swirl the caramel into the batter with gentle figure-eight motions.

Bake for 55–60 minutes, until the center is just set and the edges are slightly golden.

Allow to cool to room temperature, then refrigerate for at least 4 hours before serving.