Line a baking tray with wax or parchment paper to prevent sticking.
Finely crush the Oreos using a rolling pin or pulse in a food processor until ground.
In a bowl, blend cream cheese until smooth and then mix in Oreo crumbs until uniform.
Roll the mixture into about 24 equal balls with lightly greased hands and place on the tray. Chill for 20 minutes.
In a separate bowl, stir together peanut butter, softened butter, and powdered sugar until smooth.
Coat each Oreo ball with the peanut butter mixture, ensuring an even layer, and return to the tray.
Refrigerate for 20 to 30 minutes to let the coating firm up.
Melt chocolate chips in a microwave-safe bowl in 30-second intervals, stirring until fully melted and smooth.
Dip each truffle on a toothpick into the melted chocolate to coat completely. Allow excess chocolate to drip off, then place back on the tray.
Chill truffles for 20 to 30 minutes or until the chocolate is set. Store in the refrigerator.