Gather all ingredients. Preheat oven to 350 degrees F (175 degrees C).

Combine the flour, walnuts, and butter and mix well. Press the mixture into the bottom of a 9 x 13 inch pan.

Bake in the preheated oven until the nuts are fragrant and the crust is lightly browned, 20 to 30 minutes. Cool.

Mix together the cream cheese, vanilla, confectioners' sugar, and 1 cup whipped topping. Beat well.

Spread the filling over the cooled crust. Refrigerate for 1 hour.

Mix the instant pudding with milk until thick. Spread the pudding over the cream cheese layer.

Top with remaining whipped topping, sprinkle with nuts, and decorate with maraschino cherries.