In a large bowl, mix together flour, sugar, baking powder, and salt.
In another bowl, combine peanut butter, oil, and eggs. Whisk, or beat with fork, until ingredients are well-blended, about 1 minute. Add milk and blend slightly.
Add wet ingredients to the bowl with dry ingredients, and mix just until combined. It’s okay if a few lumps remain. Fold in chocolate chips. Allow batter to rest 10 minutes.
Heat griddle to medium heat. If your griddle or pan isn’t non-stick, add a teaspoon of oil or butter to the pan.
Pour batter by ¼ cupfuls onto the griddle. When tops of pancakes bubble a bit and edges look slightly dry, about 2 minutes, flip pancakes and cook until done, about 2 more minutes. Length of cooking time depends on hot your griddle is.
Serve immediately with chocolate syrup, melted peanut butter, chopped peanuts, more chocolate chips, or whipped cream, if desired.