Imagine rich, creamy milk blending perfectly with luscious heavy cream, all mixed with decadent mini chocolate chips and smooth, velvety peanut butter. This Iced Peanut Butter Chocolate Milk is a dreamy combo that will satisfy your sweet cravings and keep you coming back for more!
Pair this with my delicious Chocolate Chip Cookies or Shortbread Cookies.

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What is Iced Peanut Butter Chocolate Milk?
Craving something rich, chocolatey, and irresistibly creamy? This Iced Peanut Butter Chocolate Milk is the ultimate treat that combines the comforting flavors of peanut butter and chocolate into one smooth, chilled drink. Whether you’re looking for a refreshing summer beverage or a cozy winter indulgence (yes, it’s delicious hot too!), this drink has you covered.
If you love peanut butter cups, this is like drinking one in liquid form—creamy, smooth, and packed with flavor. Perfect for kids, adults, and anyone who loves a sweet treat, this recipe is simple to make and even easier to enjoy!
Substitutions
- Milk – Swap with almond milk, oat milk, or coconut milk for a dairy-free option.
- Heavy cream – Swap heavy cream for a cup of soy milk or another milk of your choice to lower fat and increase calcium.
- Mini chocolate chips – Use unsweetened cocoa powder and replace sugar with brown sugar or any sweetener.
- Creamy peanut butter – Substitute with almond butter, cashew butter, or sunflower seed butter for a nut-free version.

Variations
- Chocolate Peanut Butter Iced Coffee – Add a shot of espresso or cold brew coffee for an extra kick of caffeine.
- Blended Version – Use a blender to mix all the ingredients with extra ice cubes for a smooth, frosty texture.
- Spiced Flavor – Enhance the drink with a teaspoon of ground cardamom or a pinch of cinnamon.
- Chocolate Peanut Butter Milkshake – Blend with chocolate ice cream and ice cubes for a rich, indulgent treat.
- More Flavors – Stir in a teaspoon of vanilla extract for a more complex flavor. Garnish with whipped cream and drizzle with chocolate syrup.
Storage
- Refrigerate – Store in an airtight safe jar for up to 3 days.
- Freeze – Turn it into frozen chocolate peanut butter cubes for smoothies.
Ingredients
- milk
- heavy cream
- mini chocolate chips
- creamy peanut butter
Instructions
On low-medium heat, place saucepan on the stove.

Add milk, and heavy cream and mix for 2 minutes. Add chocolate chips and mix until melted, add peanut butter and mix until well combined.

Serve hot or cold in a jar.

Top Tips
- Use high-quality chocolate – Dark chocolate adds depth to the flavor.
- Chill thoroughly – The longer it chills, the richer the taste.
FAQ
Iced Peanut Butter Chocolate Milk
Ingredients
- 1 cup milk
- ½ cup heavy cream
- 4 oz mini chocolate chips
- ¼ cup creamy peanut butter
Instructions
- On low medium heat, place sauce pan on stove.
- Add milk, heavy cream and mix 2 minutes. Add chocolate chips and mix until melted, add peanut butter and mix until well combined.
- Serve hot or cold.




Claire M says
A dream in a jar! Love the peanut butter addition
Cherry says
This iced peanut butter chocolate milk looks so rich and cozy! Thanks for sharing such a warm and easy recipe to enjoy at home! 🙂
Simply Bakings Kitchen Team says
Aww thank you! 🤎🥜🍫 It really is rich, cozy, and so easy to make at home. I’m glad you like it—hope you get to enjoy a glass soon! 😊✨