In the bowl of your stand mixer fitted with the paddle attachment, mix the butter, peanut butter, brown sugar, and granulated sugar together on medium speed for 2 minutes.
Add in the eggs one at a time, vanilla extract, baking soda, and salt, and mix until smooth for 1 minute, scraping the sides of the bowl as necessary.
Turn the mixer to low and add in the flour, mixing until combined.
Slowly add in the oats and mix until incorporated.
Stir in the chocolate chips, M&Ms, and other optional add-ins.
Cover the bowl and refrigerate the dough for at least 2 hours.
Preheat oven to 375°F. While the oven is preheating, remove the dough from the refrigerator to take the chill off.
Line your baking sheet with parchment paper. Using a medium (2-tablespoon) cookie scoop, portion out the dough and place 2 inches apart on the baking sheet.
Bake for 10 to 12 minutes, until lightly golden. Allow the cookies to cool on the baking sheet for 5 minutes before transferring to a wire rack to cool completely.
Notes
For best results, refrigerate dough overnight. Optional peanut butter chips and raisins add great texture and flavor.