Preheat the oven to 350°F (175°C). Line two baking sheets with parchment paper.
In a large bowl, cream together the softened butter, brown sugar, and granulated sugar until light and fluffy, about 3-4 minutes.
Add the unsweetened applesauce and vanilla extract to the creamed mixture and mix until fully combined.
In a separate bowl, whisk together the all-purpose flour, baking soda, baking powder, and salt.
Gradually add the dry ingredients to the wet ingredients, mixing until just combined.
Fold in the rolled oats and semi-sweet chocolate chips evenly into the dough.
Using a tablespoon or cookie scoop, drop rounded balls of dough onto the prepared baking sheets, spacing them about 2 inches apart.
Bake in the preheated oven for 10-12 minutes or until the edges are lightly golden but the centers remain soft.
Remove from the oven and allow the cookies to cool on the baking sheet for 5 minutes before transferring them to a wire rack to cool completely.