If you have a lot of cheese, you'll want to store it in a way that extends the time you can use it up. If the best-by dates are several months away and the package is still shrink wrapped, cheese can be stored in the refrigerator. For cheese from an open package or that is close to its best-by date, freezing is a better storage option. Wrap the shredded or crumbled cheese in recipe-size portions and store in airtight containers in the freezer.