Start by cutting the Velveeta cheese into 1-inch cubes. This will help it melt evenly and quickly in the saucepan.
In a medium saucepan over medium heat, add the cubed Velveeta cheese and the entire can of Rotel diced tomatoes & green chilies (do not drain).
Stir the mixture gently as it heats, allowing the cheese to melt fully. This should take about 5-7 minutes. Keep an eye on it to prevent burning.
Once the cheese is fully melted and the ingredients are well combined, remove the saucepan from the heat. Transfer the dip to a serving bowl and serve immediately with tortilla chips or your favorite dippables.