1. Heat oven to 350°F.
2. Beat butter, sugar and peanut butter in medium bowl until creamy. Add egg and vanilla; beat well. Stir together flour, baking soda and salt; add to butter mixture, blending well. Stir in milk chocolate chips and peanut butter chips. Drop by rounded teaspoons onto ungreased cookie sheets.
3. Bake 12 to 14 minutes or until light golden brown around the edges. Cool 1 minute on cookie sheet. Remove to wire rack; cool completely. Makes about 36 cookies.