Drain the tofu and press firmly between paper towels to remove excess surface moisture.
Crumble the tofu into a food processor or large mixing bowl.
Add the nutritional yeast, lemon juice, olive oil, oregano, garlic powder, salt, and black pepper.
Pulse the food processor 5 to 7 times until the mixture reaches a grainy, curd-like consistency, ensuring it is not over-processed into a smooth paste.
If mixing by hand, use a fork to mash the ingredients until the texture resembles ricotta cheese.
Fold in the finely chopped fresh basil.
Transfer to an airtight container and refrigerate for at least 30 minutes to allow flavors to meld before using in recipes like lasagna or stuffed shells.