Add the softened butter and both sugars to a mixing bowl or bowl of a stand mixer and cream together for 1 minute.
Add in the egg, peanut butter and vanilla and beat for 1 additional minute.
Add in the dry ingredients, aside from the chocolate chips, and beat until combined.
Fold in the chocolate chips.
Add the batter to the fridge to chill for 30 minutes.
During the final 10 minutes, preheat the oven to 350 degrees Fahrenheit and line two cookie sheets with parchment paper.
Once the dough has chilled, scoop using a 2 tablespoon scoop and place on the baking sheet, keeping enough space between each cookie.
Bake one sheet at a time for 13-16 minutes or until the edges are golden brown. They will continue to firm up as they cool, so don't over bake!
Remove from the oven and use a round cookie cutter to swivel around the edges to create a perfect circle. Once cool, serve and enjoy!