In a large bowl, cream together the margarine, white sugar, and brown sugar until smooth. Beat in the eggs one at a time, then stir in the vanilla and peanut butter. Mix in the baking soda, oats, and chocolate chips until well blended. Drop 1/4 cupfuls of dough 4 inches apart onto ungreased cookie sheets. Flatten with a fork to 2 1/2 inches in diameter.
Bake for 10 to 12 minutes in preheated oven. Cool 1 minute on cookie sheet before transferring to wire racks to cool completely.