In a medium bowl, whisk together pancake mix, milk, egg, and vanilla extract until smooth and well combined. The batter should be thick enough to coat the Oreos.

Place Oreo cookies in the freezer for 10 minutes before coating. This helps the cookies hold their shape and prevents them from getting soggy.

Preheat your air fryer to 400 degrees Fahrenheit for 3-5 minutes. Spray the air fryer basket generously with cooking spray to prevent sticking.

Remove cookies from freezer. Dip each Oreo into the batter, making sure it is completely coated on all sides. Let excess batter drip off.

Place coated Oreos in a single layer in the air fryer basket, making sure they do not touch each other. Work in batches if necessary.

Cook at 400 degrees Fahrenheit for 6-8 minutes, flipping halfway through, until the coating is golden brown and crispy.

Remove from air fryer and let cool for 2-3 minutes. Dust with powdered sugar and serve immediately while still warm for the best texture.