20 servings (serving size: 1 wedge)

Treat yourself to a light version of peanut butter pie. It tastes like eating a peanut butter and chocolate candy bar, but lightened ingredients like reduced-fat peanut butter, fat-free condensed milk, and light cream cheese keep fat and calories in check without sacrificing any flavor. 

How to Make It

Step 1

Combine the first 3 ingredients in a large bowl; beat with a mixer at medium speed until smooth. Add the condensed milk, and beat until combined. Stir in the whipped topping. Divide the mixture evenly between shells; chill 8 hours or until set (pies will have a soft, fluffy texture). Cut into wedges, and drizzle with chocolate syrup.

Step 2

Note: We loved this pie frozen--its texture is more like that of an ice-cream pie.

Ratings & Reviews

Dominogurlz's Review

November 12, 2011
Bakergirlmd-if you want to submit your own recipe, please do so but don't tell others to try yours instead. We are supposed to be rating this pie, not yours.

golddome's Review

June 26, 2011
This pie is AWESOME ! I made it just as the recipe states and it turned out great. It has fantastic taste without being overwhelming. Try it - - you won't be disappointed!

Toby000's Review

June 06, 2014
Easy to make if your cool whip is thawed & cream cheese very softened, skip the sugar; couldn't find low fat graham cracker crust. Not sure the chocolate is worth buying - other than for decoration. Best frozen, very satisfying.

SingingGourmand's Review

April 07, 2014
This was amazing! The only problem was the portion size - it's really hard to stop with one piece! I couldn't find low-fat sweetened condensed milk, so I used low-fat evaporated milk and only used 1/4 cup of powdered sugar and that was plenty sweet enough. I also used an 8 oz package of frozen whipped topping instead of 12 oz, and that seemed to be just fine.

jkgmba's Review

November 14, 2013
Excellent recipe and super easy. I put in 1/2 the powered sugar called for when I made it and I will leave it out entirely next time. I served it frozen and it was a hit.

ktleyed's Review

November 14, 2013
This is to die for! Granted, couldn't find fat free condensed milk or low fat graham cracker crust - or low fat peanut butter - LOL! The only one I could find was the Free Cool Whip and cream cheese, but I bet it would still be great! Froze the 2nd one, a real keeper!

TriciaS's Review

July 23, 2013
This was a HUGH hit with my family!! Easy and delicious!! Like other reviewers left out powdered sugar. Do NOT need it!! Plenty sweet with just the condensed milk. Also used Oreo crust. Froze, drizzled with chocolate & caramel syrup and sprinkled with few chopped pecans. It is rich so don't need big piece although my son ate two large pieces! Will definitely be making again!!

JuliaMOMara's Review

January 25, 2013

rstarrlemaitre's Review

January 06, 2013
Tastes exactly like Reese' pieces, except light and fluffy instead of hard-shelled candy! Might try with real pie crust instead of graham cracker crust next time.

FaithCooks's Review

June 11, 2012