Start by placing 1 cup of creamy peanut butter, 1/4 cup of honey, and a teaspoon of vanilla extract into a large mixing bowl. Stir everything together until the mixture is smooth and slightly fluffy, releasing a nutty aroma.
Add 1 1/2 cups of rolled oats and 1/2 cup of mini chocolate chips to the bowl. Fold everything together with a spatula until the ingredients are evenly combined and the mixture feels sticky but manageable.
Using a small cookie scoop or tablespoon, portion out about 1 tablespoon of the mixture. Roll it between your palms to create a compact ball, about 1 inch in diameter, and place it on a parchment-lined baking sheet. Repeat with the remaining mixture, spacing the balls evenly.
Pour 1 cup of semi-sweet chocolate chips into a microwave-safe bowl. Microwave in 20-second bursts, stirring between each, until the chocolate is melted and smooth with a shiny finish. This should take around 1 minute total.
Using a fork, dip each peanut butter ball into the melted chocolate, turning to coat evenly. Allow any excess chocolate to drip off before placing the coated ball back on the parchment. Repeat with all the balls, then place the tray in the fridge.
Chill the coated peanut butter balls in the refrigerator for at least 30 minutes, or until the chocolate is set and firm. Once chilled, they are ready to serve or store in an airtight container in the fridge for up to a week.