Stir together yogurt, sugar, and vanilla in a large bowl.
Whisk in peanut butter until fully incorporated. Cover mixture and refrigerate for at least 2 hours or until thoroughly chilled.
Add the yogurt-peanut butter mixture to your ice cream maker and process according to the machine's instructions.
About 5 minutes before the frozen yogurt is ready, add the chocolate chips. Continue mixing until the yogurt has a soft serve texture and everything is well combined.
Transfer frozen yogurt to an airtight container and freeze until solid.
To serve, scoop frozen yogurt into individual bowls or cones. Enjoy!