Start by gathering all of your ingredients. Measure out the Rice Chex, Cap'n Crunch, mini pretzel twists, Honey Nut Cheerios, peanuts or cashews, and M&Ms into a large mixing bowl. Set aside.
In a microwave-safe bowl, combine the white chocolate chips and vegetable oil. Heat in the microwave in 30-second intervals, stirring after each interval until the chocolate is completely melted and smooth. Be cautious not to overheat it, as chocolate can burn easily.
Pour the melted white chocolate over the cereal mixture in the large mixing bowl. Use a spatula to gently fold the mixture until all the dry ingredients are coated evenly with the white chocolate.
Once everything is mixed, spread the Chex mix evenly onto a baking sheet lined with parchment paper. This will help prevent sticking and make cleanup a breeze. Allow the mix to cool completely at room temperature. The white chocolate will harden as it cools.
Once cooled, break apart the White Chocolate Chex Mix into bite-sized pieces, and transfer it to an airtight container. This will keep it fresh and delicious for snacking!