Preheat oven to 350 degrees. Line baking sheets with parchment paper or lightly grease with non-stick cooking spray.

In a large bowl, cream together the butter, white sugar and brown sugar with an electric mixer until light and fluffy. Mix in the peanut butter, vanilla and egg until well blended.

In another medium bowl, combine the flour, baking soda and salt. Add flour mixture to creamed mixture and mix well. Stir in the oats and chocolate chips until evenly distributed.

Drop by tablespoonfuls onto prepared baking sheets. Bake for about 10 minutes, or until edges just start to brown. Cool on cookie sheets for 3-5 minutes before transferring to a wire rack to cool completely.