Line a 9×9 baking dish with aluminum foil so that there's extra hanging over all four edges to use as handles. Lightly coat foil with cooking spray.
Melt butter over medium heat in a medium saucepan. Stir in the sugar, milk, pumpkin, corn syrup, and pumpkin pie spice and increase heat to medium-high.
Cook, stirring constantly, until mixture comes to a boil. Continue cooking, stirring frequently, until a candy thermometer reads 235 degrees F (soft-ball stage). This can take anywhere from 10-20 minutes depending on your interpretation of "medium-high" heat.
Remove pan from heat. Stir in white chocolate, marshmallow fluff, and vanilla until well blended.
Pour hot fudge mixture into the prepared pan. Let stand 2 hours or until completely cool.
Refrigerate for one hour before cutting fudge into squares.
This fudge is sweet. If you prefer desserts that aren't overly sweet, you can add 1/4 teaspoon salt OR use salted butter instead of unsalted.
Be sure to let the fudge cool completely and then chill in for a few hours for best results.
There is a main culprit when it comes to fudge that isn't hardening. When you make fudge you have to reach a certain temperature on the candy thermometer, BUT you also have to have the flame adjusted correctly. If you cook it too fast (too high a flame) enough water won't evaporate and the fudge won't set. If you have the flame too low it will take too long to reach temperature, causing too much water to evaporate and leaving you with dried out fudge.
The recipe states to begin over medium heat and after all the ingredients are combined, then you increase the heat to medium-high. This is important to reach the correct consistency and to reach the right temperature within 10-20 minutes. If it took less than that time to reach temperature then likely your flame was too high and it cooked too fast.