Mix the peanut butter and the softened butter together in a mixing bowl. Gradually stir in the powdered sugar until fully combined. Cover and refrigerate for about 15 minutes to firm up.

Using your hands, shape the dough into 1-inch balls. Place the balls on a parchment or waxed paper covered baking sheet. Cover with another sheet of parchment paper and refrigerate for at least 20 minutes.

Add the chocolate to a medium microwaveable bowl and heat in 30 second intervals until melted, stirring after every 30 seconds.

Using a fork, dip the peanut butter balls one at a time into the melted chocolate. Allow the excess chocolate to run off. Place the chocolate balls onto waxed paper. Cover and refrigerate until ready to serve.