In a small bowl, mix together Italian seasoning, garlic powder, smoked paprika, salt, and pepper. Rub this mixture into the chicken breasts.
Set the Instant Pot to Sauté and add olive oil. Once hot, add the chicken breasts and sear on all sides until golden brown. Remove the chicken and set aside.
Pour the chicken broth into the pot. Place the trivet inside and arrange the chicken breasts on top.
Seal the Instant Pot lid, set the valve to 'Sealing', and select Manual or High Pressure. For fresh chicken, cook for 5 minutes; for frozen chicken, cook for 10 minutes.
After cooking, let the pressure release naturally for 10 minutes, then switch to quick release for any remaining steam.
Open the lid, transfer the chicken to a cutting board, and let it rest for 5 minutes before slicing or shredding.
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Notes
Store cooked chicken in an airtight container in the fridge for up to 4 days. Freeze for up to 3 months.