Line an 8x8-inch baking pan with parchment paper, leaving some overhang on the sides for easy removal later. Set aside.
In a medium saucepan over low heat, combine the almond butter and honey (or maple syrup). Stir continuously until the mixture is smooth and well combined, about 2-3 minutes.
Remove the saucepan from heat and stir in the vanilla extract and vanilla protein powder. Mix until fully incorporated.
In a large mixing bowl, add the Cheerios. Pour the almond butter mixture over the Cheerios and gently stir until the cereal is evenly coated.
If using mini chocolate chips, let the mixture cool slightly, then fold in the chocolate chips. This helps prevent them from melting completely.
Transfer the mixture to the prepared baking pan. Use a spatula or your hands (lightly greased) to press the mixture firmly and evenly into the pan.
Place the pan in the refrigerator and chill for at least 1 hour, or until the bars are firm and set.
Once set, lift the mixture out of the pan using the parchment paper overhang and place it on a cutting board. Cut into bars of your desired size.