Combine softened cream cheese and ¼ cup of the sweetened condensed milk (reserve the rest for later) into a mixing bowl. Beat with a mixer until well blended.
Add ½ cup of the cool whip (reserve the rest for later) and beat together until combined. Spread onto the bottom of the graham cracker crust.
In the same bowl, combine the remaining sweetened condensed milk, fresh orange zest, orange juice, and the dry instant pudding mix. Beat together with a mixer for 2 minutes. Stir in the remaining cool whip. Spread onto the first layer in the pie crust and spread out evenly.
Cover with the enclosed lid and refrigerate for at least 8 hours. It’s best to refrigerate overnight.
Garnish with freshly whipped cream and orange zest, if desired.
Serve and enjoy!