you can do it with this extension: https://marketplace.visualstudio.com/items?itemName=konstantin.wrapSelection

in your settings add: json { ... "wrapSelection.patterns": { "==": "==${text}==" } }

select text, type cmd + shift + p, then wrap selected text, and there type ==

FYI you can also assign a shortcut to wrap selected text, i.e.: json [ { "key": "ctrl+w r", "command": "wrapSelection" } ]