Line a 9x13-inch pan with foil that hangs off the sides. Grease the pan and set aside.
Put the granulated sugar, brown sugar, evaporated milk, and butter in a large, heavy pot and bring it to a full rolling boil over medium heat, stirring almost constantly. Boil for 5-6 minutes, stirring almost constantly.
Remove from heat and add the creamy peanut butter, marshmallow cream, peanut butter chips, and vanilla. Stir until smooth.
Spread the mixture into the prepared pan. Allow it to cool to room temperature and then refrigerate until firm before cutting into squares.
Video
Notes
Store the peanut butter fudge in an airtight container in the refrigerator for 1-2 weeks or in the freezer for up to 2 months.