Add the softened butter, peanut butter, and powdered sugar to a large bowl.
Mix everything together until it’s blended well and you have a smooth dough.*
Take about a tablespoonful or a small cookie scoop of the peanut butter mixture and begin to roll it between your hands. Shape it into 1-inch round balls, and place each one on a baking sheet lined with wax paper or parchment paper.
Add toothpick to each ball for dipping.
Chill the peanut butter balls in the fridge or freezer for about 30 minutes.
Add the chocolate to a deep, microwave-safe measuring cup or bowl; and pulse it in the microwave on high starting with 30 seconds, stirring every 15-20 seconds 'til melted and smooth.
Remove the peanut butter balls from the freezer, and using the inserted toothpicks, dip each one into the melted chocolate, leaving the very top part undipped, so to resemble an actual buckeye.
Chill your buckeye peanut butter balls in the fridge or freezer ’til set, probably about 15-20 minutes.
Then remove all the toothpicks and cover up each toothpick hole with your finger (optional step).
Store the buckeyes in a wax paper lined airtight container or festive Christmas tin in the fridge.