In an electric mixer, cream room temperature butter and sugars. Mix until well combined.
Crack eggs, one at a time and add to butter/sugar mixture. Add in vanilla. Mix until well combined.
In a separate bowl, mix together the dry cake mix, flour, baking soda, baking powder, and salt.
Add the flour mixture to the wet ingredients. Add in chocolate chips and sprinkles as well. Mix until well combined and there are no longer any chunks.
Cover cookie dough bowl tightly with plastic wrap and refrigerate for 2-3 hours. This step is important as cookie dough needs to be cold when baked or cookies will spread.
Measure cookie dough mounds into 1.5-2 oz balls. Mound the cookie dough balls high so that the middles will stand tall when baked.
Place cookie dough mounds on a baking sheet lined with parchment paper or silicone baking mats. Cookies should be at least 2 inches apart.
Bake cookies at 350 degrees for 12-14 minutes. Watch the cookies very carefully. When the edges have set and the tops start to brown, they are ready to be removed. Overbaking these cookies will lead them to spread.
Allow cookies to finish baking on the hot sheet for another 30 minutes or so before removing.