Preheat the oven to 375F.
Line a large baking sheet with parchment paper.
In the bowl of a stand mixer, beat together the softened butter and granulated sugar until light and fluffy-- about 2 minutes on medium-high speed.
Reduce the mixer to low speed, add the vanilla extract and food coloring, if using, and mix until incorporated. Scrape down the sides of the bowl.
With the mixer still on low speed, slowly add the flour. Mix just until the dough has come together in a ball.
Wrap the dough in plastic wrap and place it in the freezer to chill for 15-20 minutes, or until it has hardened slightly.
Lightly flour your work surface and roll the dough out until it is ¼” thick.
Cut the cookies using a heart-shaped cookie cutter that is about 2” across.
Transfer the cut cookies to the parchment-lined baking sheet.
Re-roll any leftover dough and repeat the cutout process.
Bake the cookies for 10-15 minutes (depending on the size of your hearts), or until the edges are starting to turn golden brown.
Allow the cookies to cool completely before adding icing or decorating.
Store in an airtight container at room temperature for up to 2 days.