Preheat your oven to 375°F (190°C) and prepare a baking sheet lined with parchment paper.

In a large mixing bowl, combine softened unsalted butter, creamy peanut butter, granulated sugar, and light brown sugar. Beat until light and fluffy.

Crack a large egg into the mixture and beat until fully combined.

In a separate bowl, whisk together all-purpose flour, baking powder, and baking soda. Gradually mix into the wet ingredients until just combined.

Roll the dough into 1 tablespoon-sized balls and place them on the cookie sheet.

Bake for about 8 minutes until slightly puffy, then press down gently with a glass.

Cool the cookies completely on the baking sheet for 1 hour.

Melt milk chocolate chips and canola oil in a microwave-safe bowl, heating in 30-second intervals.

Spoon melted chocolate into the center of each cookie and let set until hardened.

Dust cookies lightly with powdered sugar before serving.