Preheat oven to 350 degrees. Line baking sheet with parchment paper. Set aside.
Add butter, brown sugar, granulated sugar, baking powder, baking soda, and salt to the bowl of an electric mixer (or a large mixing bowl). Beat until smooth, about 2 minutes. It will be thick.
Add peanut butter, eggs, and egg yolk. Beat until creamy and smooth, about 2 minutes.
Add flour. Beat just until the flour is incorporated.
Stir in chocolate chips.
Drop cookies onto a parchment-lined baking sheet using a 2 Tablespoon-sized cookie scoop. You can leave the cookies dropped, or roll between the palms of your hands to make them smooth. Add additional chocolate chips to the tops of the cookies if desired.
Bake for 10-12 minutes. Let rest on a baking sheet for 5 minutes. Move to a cooling rack to completely cool.
Use conventional peanut butter, not natural peanut butter for this recipe.Every oven bakes a little differently. The cookies will still be jiggly in the center and a little bit crinkly on top when they are done.Cookie dough can be made up to 24 hours before baking. Refrigerate until you're ready to bake the cookies, then let sit at room temperature for about 30 minutes. Bake as directed.Store cookies in an airtight container for up to four days.