Mix together the peanut butter, butter and powdered sugar until combined.
1/2 cup (135g) creamy peanut butter, 3 Tbsp (42g) unsalted butter, 1 cup (125g) powdered sugar
Roll the mixture into 1" balls and place in a freezer-safe container lined with wax paper. Cover and chill in the freezer for 1 hour.
Melt the chocolate in the microwave at 50% power in 30-second increments, stirring in between, until completely smooth and melted. You can also melt the chocolate in a double boiler if you prefer.
8 oz dark or semi-sweet baking chocolate
Dip the peanut butter balls, one at a time, in the melted chocolate using a small fork. Tap the fork on the side of the bowl a few times to let the excess chocolate drip off.
Set the balls on wax paper and drizzle with the excess chocolate if desired. Place in the fridge for 10-15 minutes until the chocolate hardens.
Notes
The peanut butter balls can be stored in an airtight container at room temperature for 2-3 days or in the fridge for up to 2 weeks. They can also be frozen for up to 3 months.
Expert tips:
Chill the dough if it's too soft to roll - If the dough is too soft or sticky to easily roll in your hands, pop it in the fridge for 20-30 minutes to firm up.
Freeze the balls before dipping in chocolate - This really helps the peanut butter balls hold their shape when dipping in the warm chocolate. It also helps the chocolate set up faster.
Use regular peanut butter - Creamy style is best because it gives the peanut butter balls a smooth truffle-like texture. Do not use natural peanut butter becuase it's too greasy to work with.
Use dark or semi-sweet baking chocolate - Baking chocolate melts much better than chocolate chips. I've also heard good things about Ghirardelli chocolate wafers. You can also use chocolate-flavored melting wafers, but they don't taste as good.
Melting the chocolate - The easiest and fastest way is to melt the chocolate in the microwave. Place the chocolate in a microwave-safe bowl, heat at 50% power in 30-second intervals, stirring in between until smooth and completely melted.
Use a small fork to dip the peanut butter balls - Using a fork allows you to quickly roll the balls in the chocolate and lift them out. Tip the fork to roll the balls onto the wax paper or use a toothpick to help slide the balls off the fork.
Tap excess chocolate - After dipping the balls in the chocolate, tap the fork on the side of the bowl a few times to let the excess chocolate drip off so it doesn't pool on the bottom when you place the balls to set.