Preheat oven to 350°F (175°C). Line baking sheets with parchment paper or silicone mats.

In a medium bowl, whisk together the flour, baking soda, baking powder, and salt. Set aside.

In a large bowl, beat the butter, granulated sugar, and brown sugar until creamy, about 2 minutes.

Mix in the eggs one at a time, then beat in the peanut butter and vanilla until smooth.

Add the dry ingredients and mix on low speed until just combined.

Stir in oats, 1 cup of chocolate chips, and 1 cup of M&Ms with a spatula. The dough will be thick but should hold its shape.

If the dough feels very soft and doesn’t hold a ball well, place the bowl in the freezer for 15 minutes before scooping.

Scoop large balls of dough (about 3 tablespoons each) and place them 2–3 inches apart on prepared baking sheets.

Bake 13-15 minutes, until the edges are set but the centers still look slightly soft.

Remove from oven and immediately press the extra chocolate chips and M&Ms on top for that bakery-style look.

Let cookies cool on the baking sheet for 5 minutes before transferring to a wire rack.