Pat the scallops dry gently using a kitchen towel.

In a large mixing bowl, add olive oil. Add scallops and toss them so that the oil coats every scallop completely.

Combine onion powder, garlic powder, old bay seasoning, black pepper, salt, and panko bread crumbs in another mixing bowl. Mix well.

Add scallops to the spice mix and toss so that it coats the scallops completely.

Prepare the air fryer basket by spraying it with cooking spray.

Place breaded scallops in a single layer in the air fryer basket and cook for about 12 minutes at 400 degrees F. flip the scallops after 7 minutes.

Once done, remove the scallops from the air fryer basket and repeat the process until you have used all the scallops.

Serve with your favorite dipping sauce, and enjoy!