In a large bowl, cream together the peanut butter and butter until light and fluffy. Mix in the vanilla.
Sift in the powdered sugar. Using a hand mixer, mix together all the ingredients together until fully incorporated.
Using a medium cookie scoop, scoop the peanut butter mixture and roll between your hands to create a smooth ball. Place the peanut butter balls on a baking sheet.
Place in the freezer until hardened. Transfer to an airtight container and store in the fridge or freezer.