Place the figs, sugar, honey, and lemon juice in a medium saucepan over medium-high heat. Bring to a boil then reduce the heat to low and cook, stirring often, until thickened, about 40-45 minutes.
Remove from the heat and stir in the vanilla. Cool completely.
Use an immersion blender to make it smooth, if desired.
Store jam in an airtight jar in the refrigerator for up to 3 weeks. Enjoy!