1 (12 oz.) pkg. milk chocolate morsels
1 1/4 c. crunchy peanut butter
1 (14 oz.) can sweetened condensed milk

In top of double boiler, over hot, not boiling water. Melt chocolate morsels and peanut butter. Remove from heat; stir in milk; mix well. Spread evenly into a waxed paper lined 8 inch square pan.

Chill 2 hours or until firm. Turn fudge onto cutting board; peel off paper and cut into squares. Store loosely covered at room temperature.