Preheat your oven to 350 degrees F. and grease two 9-inch cake pans with butter or baking spray.
Place the strawberries in a food processor and puree. Add the puree to a saucepan and cook over medium heat for 25 minutes, stirring occasionally. Let it cool completely.
Mix the unsalted softened butter and sugar for 2 minutes or until fluffy. Add the eggs one at a time along with the vanilla extract.
Add the vegetable oil and mix for an additional 10 seconds.
Combine the cake flour, baking powder, baking soda, and salt.
Add the cake flour mixture to the sugar mixture alternating with the buttermilk. Start with the flour mixture and finish with the flour mixture. Do not over mix the cake batter. Add the red food coloring and mix for 5 seconds.
Fold in the cooled strawberry puree. Pour the cake batter evenly into the greased cake pans. Bake for 27 minutes or until fully cooked through.
To make the strawberry cream cheese frosting, mix the softened cream cheese and unsalted softened butter for 1 minute. Add the powdered sugar, red food coloring, vanilla extract, and strawberry jam and mix for 4-5 minutes or until the frosting is light and fluffy.
Let the cakes cool completely before frosting, garnish with fresh strawberries, if desired, and enjoy!