Preheat your oven according to the cake mix instructions.

In a bowl, mix the red velvet cake mix, eggs, oil, and water until well combined.

Pour the batter into a greased baking pan and bake per the package instructions, typically around 30 to 35 minutes.

Once baked, allow the cake to cool completely in the pan.

In a separate bowl, beat the softened cream cheese and butter together until creamy.

Gradually add powdered sugar, mixing in the vanilla extract until you achieve a smooth consistency.

Crumble the cooled cake into a large bowl and add the cream cheese frosting. Mix until the crumbs are evenly coated, and the mixture sticks together.

Use your hands to roll the mixture into small balls, about 1 inch in diameter, and place them on a baking sheet lined with parchment paper.

Place the baking sheet in the fridge for about 30 minutes to firm the cake balls.

In a microwave-safe bowl, melt the white chocolate chips in 30-second intervals until smooth.

Dip each chilled cake ball into the melted chocolate, using a fork for easy handling. Allow excess chocolate to drip off.

Before the chocolate hardens, sprinkle with optional sprinkles for that extra flair. Let the coated cake balls cool on the baking sheet.

Once set, enjoy these delightful cake balls right away or store them in the refrigerator for later!