Set up three shallow bowls: add the flour to one; whisk the eggs with the milk in a second; in a third bowl combine the panko, garlic powder, onion powder, smoked paprika, salt, and black pepper.

Pat the unwrapped Babybel cheese rounds dry with paper towels to remove any excess moisture.

Working one piece at a time, coat each Babybel in flour, shaking off any excess, then dip in the egg mixture, and then roll in the seasoned panko to coat completely.

For a thicker crust, dip each panko coated cheese round back into the egg mixture and then again into the panko, pressing gently so the crumbs adhere well.

Place the breaded cheese rounds on a plate or small tray in a single layer and freeze for 10 to 15 minutes.

While the cheese chills, preheat the air fryer to 380°F and lightly grease the basket with olive oil spray.

Arrange the chilled Babybel rounds in a single layer in the air fryer basket, leaving a little space between each piece, and spray the tops lightly with olive oil.

Air fry at 380°F for 5 to 7 minutes, flipping the cheese rounds halfway through cooking, until golden brown and just softened in the center.

Let the air fried Babybel cheese rest in the basket for 1 to 2 minutes, then transfer to a plate, garnish with chopped parsley if desired, and serve immediately with your favorite dipping sauce.