Gather all ingredients. Dotdash Meredith Food Studios
Preheat the oven to 350 degrees F (175 degrees C). Grease a rimmed 10x15 inch baking pan.
To make the cake: Whisk together flour, sugar, and baking soda in a large bowl. Dotdash Meredith Food Studios
Beat milk, eggs, and vanilla into flour mixture with an electric mixer on low speed until smooth. Dotdash Meredith Food Studios
Place water, butter, oil, and peanut butter into a saucepan; cook and stir over medium heat until smooth, about 5 minutes. Dotdash Meredith Food Studios
Stir peanut butter mixture into flour mixture until batter is well mixed; pour and spread onto the prepared baking sheet. Dotdash Meredith Food Studios
Bake in the preheated oven until a toothpick inserted into the center of the cake comes out clean, about 20 minutes.
To make the icing: Melt butter and peanut butter in a saucepan over medium heat; stir until smooth. Dotdash Meredith Food Studios
Mix in milk and vanilla until combined. Dotdash Meredith Food Studios
Whisk in confectioners' sugar until icing is smooth, 3 to 5 minutes. Dotdash Meredith Food Studios
Pour icing over warm cake and spread evenly. Dotdash Meredith Food Studios
Peanut Butter Cake · Dinner Match Lab | Dinner Match Lab