Heat the oven to 350 F.
In a stand mixer, cream butter and sugars.
Add eggs and vanilla; mix until combined.
Add peanut butter, baking soda and salt; mix again until well combined.
In a separate bowl, combine oatmeal and flour; with mixer on low, gradually add dry mixture to the peanut butter mixture.
Stir in chocolate chips and M&M’s.
Drop by rounded tablespoons onto ungreased baking sheets.
Bake for 8-10 minutes, or until golden brown. Let cool for 2 minutes, then remove to wire racks to cool completely.