Gather all your ingredients on the counter. Having everything ready will make the process smoother.
In a medium saucepan over medium heat, melt the salted butter until it’s completely liquid.
Once the butter is melted, pour in the evaporated milk and stir to combine. Allow the mixture to heat through for about 1-2 minutes, but do not let it come to a boil.
Gradually add the powdered sugar to the saucepan, whisking continuously to prevent lumps from forming. The mixture will start to thicken as you stir.
Once the powdered sugar is fully incorporated, add the semisweet chocolate chips. Continue stirring until the chocolate chips are completely melted and the sauce is smooth and glossy.
Remove the saucepan from heat and let the sauce cool slightly before serving. Drizzle it over your favorite desserts or store it in a container for later use.
