Preheat the oven to 350°F (175°C).

In a large mixing bowl, cream together the softened butter, granulated sugar, and brown sugar until light and fluffy.

Add the vanilla extract and eggs, one at a time, mixing well after each addition.

In a separate bowl, whisk together the flour and baking soda.

Gradually add the dry ingredients to the wet mixture, mixing until just combined.

Fold in the chocolate chips and chopped maraschino cherries.

Drop rounded tablespoons of dough onto ungreased baking sheets, spaced about 2 inches apart.

Bake in the preheated oven for 10-12 minutes, or until the edges are golden brown.

Remove from oven and allow to cool on the baking sheets for 5 minutes before transferring to wire racks to cool completely.