PREHEAT oven to 375° F.
BEAT butter and sugars in large bowl until creamy. Add eggs and vanilla extract; beat well. Add combined flour, baking soda and salt; mix well. Add oats and morsels; mix well.
DROP dough by level tablespoonfuls onto ungreased cookie sheets.
BAKE 7 to 8 minutes for a chewy cookie or 9 to 10 minutes for a crisp cookie. Cool on baking sheets for 2 minutes; remove to wire racks to cool completely. Store tightly covered.