Preheat oven to 350°F (175°C) and grease a 9x13-inch baking dish.
In a large bowl, mix cake mix, water, oil, and eggs until smooth. Pour batter into prepared dish.
In another bowl, beat together peanut butter, cream cheese, melted butter, powdered sugar, and vanilla until smooth.
Drop spoonfuls of the peanut butter mixture over the cake batter. Use a knife to gently swirl.
Sprinkle chopped Reese’s Peanut Butter Cups evenly over the top.
Bake for 35–40 minutes until a toothpick inserted into the center comes out mostly clean.
Allow to cool slightly before slicing. Serve warm or at room temperature.