Prepare the Chicken: Season the chicken breasts with garlic powder, onion powder, salt, and pepper. Set aside.
Make the Peach Glaze: In a small saucepan over medium heat, combine the diced peaches, peach preserves, and soy sauce. Stir frequently, allowing the mixture to bubble and the peaches to break down slightly, about 5-7 minutes. Remove from heat and let it cool slightly.
Sear the Chicken: In a large skillet, heat the olive oil over medium-high heat. Add the seasoned chicken breasts and cook for 6-7 minutes on each side, or until they are golden brown and cooked through.
Glaze the Chicken: Once the chicken is cooked, pour the peach glaze over the chicken in the skillet. Allow the chicken to simmer in the glaze for an additional 2-3 minutes, turning to coat evenly.
Serve: Remove from heat and let the chicken rest for a few minutes. Slice the chicken and drizzle any remaining glaze on top.
Garnish: Serve with fresh basil leaves for an added touch of flavor and freshness.