Preheat your oven to 350°F (175°C) and prepare three 8-inch round cake pans by lining the bottoms with parchment paper and lightly greasing the sides.
In a medium bowl, whisk together the flour, baking powder, and salt; set this dry mixture aside.
In a large mixing bowl, beat the softened butter, vegetable oil, sugar, and vanilla extract together for about 2 minutes on medium-high speed until the mixture becomes pale and fluffy. This step is crucial, as proper creaming enhances both texture and rise.
Add the eggs, one at a time, ensuring each is fully incorporated before adding the next. Scrape down the sides of the bowl occasionally to ensure an even mixture.
Gradually add half of the dry ingredients to the creamed butter mixture and mix until just combined.
Slowly pour in the milk while mixing on low speed until well blended. Follow by adding the remaining dry ingredients, mixing just until the batter is smooth. Avoid overmixing, as it can result in a dense cake.
Evenly divide the batter between the three prepared cake pans and bake for 22-25 minutes, or until a toothpick inserted into the center comes out with a few moist crumbs.
Allow the cakes to cool in the pans for 2-3 minutes, then carefully transfer them to wire racks to cool completely.