In a large bowl cream together peanut butter, butter, brown sugar, sugar, egg and vanilla with a electric hand mixer.
Add flour, baking soda, baking powder and salt to bowl and continue mixing on a lower speed until blended.
Cover dough and chill in the refrigerator for 45 minutes.
Preheat oven at 375 degrees F.
Spray cookie sheets with nonstick spray or cover with silicone baking mats. Place tablespoon sized pieces of dough on cookie sheet. Using a fork, gently press down each cookie, creating a criss cross pattern with the fork. Add sugar sprinkles on top of each cookie.
Bake cookies for 14-15 minutes. Remove from oven and allow to cool.