Gather all your ingredients and tools, including a large mixing bowl and a spatula.

In a microwave-safe bowl, combine the semi-sweet chocolate chips and creamy peanut butter. Heat it in 30-second intervals, stirring in between, until the mixture is melted and smooth.

Place the Chex cereal in a large bowl. Pour the melted chocolate-peanut butter mixture over it and gently fold until all pieces are evenly coated.

Stir in the pure vanilla extract for that extra touch of flavor.

Transfer the coated mixture to a resealable plastic bag containing powdered sugar. Seal it tightly and shake vigorously.

Spread the coated mix onto parchment paper and let it cool completely before serving.