Preheat the oven to 350 degrees F. Line baking sheets with parchment paper.
Add the butter, brown sugar, and granulated sugar to a large bowl. Beat with an electric mixer on medium-high for 2 minutes.
Add the eggs and vanilla to the butter and sugar mixture and beat on low until just combined.
In a medium bowl, whisk together the flour, baking soda, and salt. Add the flour mixture to the wet ingredients. Use a sturdy spoon to mix together until just combined. Fold in the chocolate chips and crushed pretzels.
Roll 3 tablespoons of dough into a ball, then press a caramel into the center of the ball and roll around in your hands to completely seal the caramel in the dough. Place on the parchment lined baking sheet, then lightly press a pretzel into the top of the dough ball. Repeat with remaining dough.
Bake for 10-11 minutes, until the cookies start to set around the edges, but still look doughy and pale in the center. Remove from the oven. The cookies will cook more as they sit.
Let the cookies cool for 2 minutes then transfer to a clean sheet of parchment paper.
Serve warm (the best!) or store in an air-tight container for up to one week.