In a medium bowl, combine your dry ingredients (oats, flour, baking soda and salt).
Add the peanut butter, butter and sugar to a stand mixer or large bowl.
On medium speed (4) mix together for 2 minutes until creamy. Scrape down the sides of the bowl with a spatula.
On low speed (2), add the egg, vanilla and molasses. Mix for 1-2 minutes or until the mixture has incorporated the egg. Scrape down the sides of the bowl.
Add your dry ingredients to the mixture. Mix on low speed (2) until it is just incorporated. Do not over mix.
Add chocolate chips and M&M’s on low speed until they are evenly mixed into the cookie dough.
Cover your bowl in plastic wrap and chill in the fridge for one hour.
Preheat the oven to 350°F (177°C). Line your baking sheets with parchment paper.
Using an ice cream scooper, scoop balls of the dough onto the parchment paper. If you don't have an ice cream scooper use 3 tablespoons of dough to form into balls.
Bake at 350°F (177°C) for 9-11 minutes. Remove them from the oven with the edges are golden brown. Leave them on the baking tray to continue cooking. Wait to remove them until they completely cooled on the baking tray. If you remove them too quickly, they will fall apart.
Optional: Add a few extra M&M’s on the top of the cookie as soon as they got out of the oven.