Cheez Whiz is a thick and processed cheese sauce or spread sold by Kraft Foods.It was developed by a team led by food scientist Edwin Traisman (1915–2007). While many sources give its national debut as 1953, it was advertised by Kraft and retailers in several states late in 1952.heez Whiz can also be found in Handi Snacks products such as Ritz Cheez Whiz 'n' Crackers in Canada. Cheez Whiz was reformulated in the early 21st Century. The new formula is used for Cheez Whiz Light (15.5 oz) as well as the Original Big Cheese (15 oz). The products' jars were also widened to allow dipping.