Add peanut butter and protein powder to a bowl and mix well until you reach a thick dough consistency.
Roll dough into a ball and place on a parchment paper-lined plate. Slightly flatten dough and place in the freezer for 30 minutes - 1 hour.
Cut out hearts using a cookie cutter (or you can just roll into balls) and set back in the freezer for at least 1 hour.
Melt chocolate chips with coconut oil in 30 second intervals in the microwave, stirring between each (or on stovetop).
Dip each heart into melted chocolate and place on another parchment paper-lined plate. Top with sprinkles and set back in the freezer to set for another hour or 2. Keep stored in the freezer. Enjoy!