Heat olive oil in frying pan on the stove over medium high heat. Add the ground chicken, chili powder, cumin and onion powder.Stir to crumble the ground chicken and combine the spices. Cook until browned and drain fat (if any). Set aside.
Add VELVEETA cubes to a medium saucepan and melt over medium heat, stirring frequently. Add in the ground chicken and the can of RO*TEL Diced Tomatoes with Green Chilies. Stir an additional 3 to 5 minutes, or until heated through.
Serve immediately with your favorite tortilla chips.