With an electric mixture, mix together the cream cheese, butter, and vanilla until creamy; add the powdered sugar and brown sugar until well combined. Fold in chocolate chips; cover and refrigerate about 30 minutes or until somewhat firm.
Shape the dough into a ball and wrap in plastic wrap. Refrigerate until firm. Roll in pecans before serving. Serve with graham crackers, pretzels, or Nilla wafers.
Notes
Cheese ball can be frozen up to three months. When ready to serve roll in pecans.